The Security and Exchange Board of India (SEBI) relaxed the timelines for compliance with regulatory requirements due to COVID-19 pandemic.
The extension of timelines for compliance with the various regulatory requirements by the trading members/ clearing members.
Firstly, the internal audit for half year ended on September 30, 2020 has been extended till December 31, 2020.
Secondly, system Audit for half a year ended on September 30, 2020 has been extended till December 31, 2020.
Thirdly, half yearly net worth certificate as on September 30, 2020 has been extended till December 31, 2020.
Fourthly, Cyber Security and Cyber Resilience Audit for half year ended on September 30, 2020 has been extended till January 31, 2021.
Fifthly, extension of timelines for compliance with the following regulatory requirements by depository participants (DPs):
Sixthly, submission of half yearly Internal Audit Report by DPs for the half year ended on September 30, 2020 has been extended till December 31, 2020.
Seventhly, KYC application form and supporting documents of the clients to be uploaded on the system of KRA within 10 working days has been extended for the Period of exclusion shall be from March 23, 2020 till December 31, 2020. A 15-day period after December 31, 2020 can Depository / DPs, to clear the backlog.
Lastly, systems audit on annual basis for the financial year ended March 31, 2020 is extended till December 31, 2020.
Subscribe Taxscan Premium to view the JudgmentSupport our journalism by subscribing to Taxscan AdFree. We welcome your comments at info@taxscan.in
