It has been decided to further extend the timelines for compliance with the regulatory requirements by the Trading Members / Clearing Members / Depository Participants, mentioned in the SEBI circulars, as under:
Compliance requirements for which timelines were extended vide SEBI circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/61 dated April 16, 2020. | S. No. in circular for which timeline is extended further | Extended timeline / Period of exclusion |
Client Funding Reporting | I | Till July 31, 2020 for the months of April, May and June 2020. |
Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications. | II | Till July 31, 2020 for the quarter ended on March 31, 2020. |
Compliance certificate for Margin Trading for CM Segment. | III | Till July 31, 2020 |
Risk based supervision | IV | |
Internal Audit Report for half year ending (HYE) March 31, 2020 | V | Till July 31, 2020 for the half year ended on March 31, 2020. |
Net worth certificates in Margin Trading for CM Segment for HYE March 31, 2020 | VIII | |
Net worth certificates for all members for HYE March 2020 | IX | |
Penalty for non-collection / short collection of upfront margins in cash segment. | X | Till July 31, 2020. |
Maintaining call recordings of orders/instructions received from clients | XI | |
Compliance requirements for which timelines were extended vide SEBI circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/62 dated April 16, 2020. | S. No. in circular for which timeline is extended further | Extended timeline / Period of exclusion |
KYC application form and supporting documents of the clients to be uploaded on system of KRA within 10 working days. | III | Period of exclusion shall be from March 23, 2020 till July 31, 2020. |
Compliance requirements for which timelines were extended vide SEBI circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/68 dated April 21, 2020. | S. No. in circular for which timeline is extended further | Extended timeline / Period of exclusion |
Submission towards weekly monitoring of client funds under the provisions of Enhanced Supervision | I | Till July 31, 2020 |
Submission of data on monthly basis towards clients’ and fund balance under the provisions of Enhanced Supervision | II | |
Daily margin trading reporting | III | |
Update in Income Tax Permanent Account Number of Key Management Personnel / Directors | IV | Three months from the due date. |
Issue of Annual Global Statement to clients | V |