Regulatory Update: SEBI Relaxations in compliance with Regulatory Requirements
In view of the prevailing situation due to Covid-19 pandemic, the lockdown imposed by the Government and representations received from Stock Exchanges, SEBI/HO/MIRSD/DOP/P/CIR/2021/587 dated June 30, 2021 has extended the timelines for compliance with the following regulatory requirements by the Trading Members /Clearing Members / KYC Registration Agencies (“KRA”):
|
S.No. |
Submission/Compliance | Current Timeline/Period of Exclusion | Proposed Timelines/Period of Exclusion. |
| 1. | Maintaining call recordings of orders/instructions received from clients. | Till June 30, 2021 | Till July 31, 2021 |
| 2. | Client Funding Reporting | ||
| 3. | Operating the trading terminals from designated alternate locations | ||
| 4. | KYC Application Form and supporting documents of the clients to be uploaded on the systems of KRA within ten (10) working days | Till June 30, 2021, documents may be uploaded on to the system of KRA within fifteen (15) working days.
A thirty (30)-day time period is provided to the SEBI registered intermediary after June 30, 2021 to clear the backlog. |
Till July 31, 2021, documents may be uploaded on to the system of KRA within fifteen (15) working days.
A thirty (30)-day time period is provided to the SEBI registered intermediary after July 31, 2021 to clear the backlog. |
| 5. | Issue of Annual Global Statement to Clients | Till June 30, 2021
Relaxation is provided only if the client has requested for a physical statement. |
Till July31, 2021
Relaxation is provided only if the client has requested for a physical statement. |
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