Modification to Enhanced Supervision of Stock Brokers and Depository Participants
Summary
SEBI modifies the submission timelines for annual audited accounts and net worth certificates by Stock Brokers and Depository Participants from September 30th to October 31st. This revision aims to facilitate ease of doing business while maintaining monitoring criteria for these entities. The modified provisions come into immediate effect, requiring Stock Exchanges and Depositories to update their rules and notify members.
Text
As a step towards ease of doing business, it has been decided to revise the timeline to October 31st of the relevant year.
Failure to furnish Annual Audited Accounts by October 31st of the relevant year.
Failure to furnish Net worth certificate to Depository for year ending March 31st by October 31st.
The provisions of this circular shall come into force with immediate effect.
bring the provisions of this circular to the notice of their members / participants and also disseminate the same on their websites;
make necessary amendments to the relevant Bye-laws, Rules and Regulations for the implementation of the above decision;
communicate to SEBI, the status of the implementation of the provisions of this circular in their Monthly Development Reports.
This circular is issued in exercise of powers conferred under Section 11(1) of Chapter IV of the Securities and Exchange Board of India Act, 1992, and Section 19 of Chapter IV of the Depositories Act, 1996...
Source: SecMarx — Modification to Enhanced Supervision of Stock Brokers and Depository Participants. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.