Relaxation in adherence to prescribed timelines issued by SEBI due to Covid 19
Summary
SEBI grants a 21-day relaxation in prescribed timelines for processing investor requests and compliance activities due to the nationwide lockdown. This extension applies to intermediaries such as RTAs, Issuer Companies, Depositories, and Stock Exchanges. The relief covers specific operational tasks listed in the annexure and extends further if the lockdown period is prolonged.
Text
Directions are being issued for Registrars to an Issue and Share Transfer Agents / Issuer Companies, holding SEBI registration under Category 1 or Category 2 of RTI/STA.
Relaxation is hereby being given to intermediaries / market participants for equivalent period of lock down declared by Government of India i.e. 21 days, over and above the prescribed time limits, respectively, for activities / investor requests / compliance as per the annexure.
In the event of further extension in the lock down period as directed by Government of India / State Governments, additional relaxation in prescribed timelines for equal number of extended days in lock down is also being given to intermediaries / market participants.
Processing of Remat Requests
Processing of Transmission Requests
Processing of request for Issue of Duplicate Share Certificates
Processing of Requests for Name Deletion/ Name Change/ Transposition/ Pending Share Transfers (Re-lodgement cases in the case of share transfers)
Processing of Requests for Consolidation / Split / Replacement of Share Certificates / Amalgamation of Folios
Handling Investor Correspondence / Grievances / SCORES complaint
Submission of Half Yearly Report to SEBI pursuant to Circular No. CIR/MIRSD/7/2012 dated July 5, 2012
Compulsory Internal Audit of RTAs by CA / CS / CMA holding Certificate of Practice and Certified Information Systems Auditor (CISA) / Diploma Information Systems Auditor (DISA) pursuant to Circular dated April 20, 2018, issued by SEBI
Submission of Audit Report by CISA / CISM qualified or equivalent auditor by QRTAs to SEBI along with comments of the Board pursuant to Circular dated September 8, 2017 issued by SEBI on Cyber Security and Cyber Security Resilience framework for QRTAs
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Source: SecMarx — Relaxation in adherence to prescribed timelines issued by SEBI due to Covid 19. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.