Relaxation in timelines for compliance with regulatory requirements by trading members/clearing members
Summary
This circular extends regulatory compliance deadlines for trading and clearing members due to the COVID-19 pandemic. It specifically relaxes timelines for various filings, audits, and reporting requirements through May or June 2020. The directive applies to all recognized stock exchanges and clearing corporations in India and International Financial Services Centres.
Text
In view of the situation arising due to COVID-19 pandemic and extended lockdown period... it has been decided to extend the due date for the following regulatory filings and compliance requirements by their trading members / clearing members
Client Funding Reporting: Extended date 31-May-20 (Original 08-Apr-20)
Reporting Artificial Intelligence (AI) and Machine Learning (ML) applications: Extended date 31-May-20 (Original 15-Apr-20)
Compliance certificate for Margin Trading for CM Segment: Extended date 30-Jun-20 (Original 30-Apr-20)
Risk based supervision: Extended date 30-Jun-20 (Original 31-May-20)
Internal Audit Report for half year ending March 31, 2020: Extended date 30-Jun-20
System Audit Report (Algo): Extended date 31-Jul-20 (Original 30-Jun-20)
System Audit Report: Extended date 31-Jul-20 (Original 30-Jun-20)
Net worth certificate in Margin Trading for CM Segment for HYE March 31, 2020: Extended date 30-Jun-20 (Original 30-Apr-20)
Net worth certificate for all members for HYE March 2020: Extended date 30-June-20 (Original 31-May-20)
Penalty for non-collection / short collection of upfront margins in cash segment: Relaxation till 17-May-2020
Maintaining call recordings of orders/instructions received from clients: Relaxation till 17-May-2020
You have read the preview. Create a free account to read the full document and see every order that applied it.
Free accounts include 10 searches/day with full text access.
Source: SecMarx — Relaxation in timelines for compliance with regulatory requirements by trading members/clearing members. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.