Friday, August 14, 2020
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SEBI relaxes Timelines for Compliance with Regulatory requirements [Read Circular]

By Taxscan Team -

The Securities Exchange Board of India (SEBI) has relaxed timelines for compliance with various regulatory requirements by the depository participants(DPs) / Registrars to an Issue & Share Transfer Agents (RTAs).

A period of exclusion from March 23, 2020, till July 31, 2020, and a 15-day time period after July 31, 2020, is allowed to Depository/DPs, to clear the backlog for processing of the Demat request form by Issuer / RTA and processing of the Demat request form by the participants. Submission of half-yearly Internal Audit Report (IAR) by DPs for the half-year ended on 31st March 2020 has been extended to July 31, 2020. A period of exclusion from March 23, 2020, till July 31, 2020, and a 15-day time period after July 31, 2020, is allowed to Depository/DPs, to clear the backlog for redressal of investor grievances, the transmission of securities, closure of Demat account.

It has extended the timeline for reporting of Artificial Intelligence and Machine Learning by Trading Members (TM) / Clearing Members (CM) till July 31, 2020, for the quarter ended on March 31, 2020. In view of the representation received from the Stock Exchanges, the timeline for Reporting of Artificial Intelligence and Machine Learning by Trading Members (TM) / Clearing Members (CM) is extended till July 31, 2020, for the quarter ending on June 30, 2020.

To Read the full text of the Circular CLICK HERE