Relaxation in timelines for compliance with regulatory requirements
Notice Date : 15 May 2020
Securities and Exchange Board of India
May 15, 2020
1. All Recognised Stock Exchanges and Clearing Corporations (including those in International Financial Services Centres)
2. All Depositories
3. Trading members / Clearing Members through Stock Exchanges and Clearing Corporations (including those in International Financial Services Centres)
4. Depository Participants through Depositories
5. KYC Registration Agencies
Madam / Sir,
Subject: Relaxation in timelines for compliance with regulatory requirements
1. In view of the situation arising due to COVID-19 pandemic, lockdown imposed by the Government and representations received from Stock Exchanges, SEBI had earlier provided relaxations in timelines for compliance with various regulatory requirements by the trading members/clearing members, vide circular nos. SEBI/HO/MIRSD/DOP/CIR/P/2020/61 dated April 16,2020, SEBI/HO/MIRSD/DOP/CIR/P/2020/62 dated April 16, 2020, and SEBI/HO/MIRSD/DOP/CIR/P/2020/68 dated April 21, 2020.
2. In view of the prevailing situation and representations received from the Stock Exchanges, 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 aforesaid SEBI circulars, as under:
|SEBI Circular||S. Nos. for which timeline is exten-ded||Extended timeline/ Period of exclusion|
|SEBI/HO/MIRSD/DOP/CIR/P/2020/61 dated April 16, 2020.||I||Till June 30, 2020 for the month of April 2020.|
|II||Till June 30, 2020 for the quarter ended on March 31, 2020.|
|X and XI||Till June 30, 2020.|
|SEBI/HO/MIRSD/DOP/CIR/P/2020/62 dated April 16, 2020.||III||Period of exclusion shall be from March 23, 2020 till June 30, 2020.|
|SEBI/HO/MIRSD/DOP/CIR/P/2020/68 dated April 21, 2020.||I, II and III||Till June 30, 2020.|
|IV and V||Two months from the due date.|
3. All other conditions specified in the aforementioned circulars shall continue to remain applicable.
4. Stock Exchanges, Clearing Corporations and Depositories are directed to bring the provisions of this circular to the notice of their members / participants and also disseminate the same on their websites.
5. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, and Section 19 of the Depositories Act, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets.
D Rajesh Kumar
Market Intermediaries Regulation and Supervision Department