SEBI CIRCULAR DATED 1ST OCTOBER, 2020- Extension of Timelines

SEBI CIRCULAR DATED 1ST OCTOBER, 2020- Extension of Timelines

IMPACT OF SEBI CIRCULARS DATED 01st OCTOBER, 2020:

  • Extension of Timeline for Submission of Undertaking cum Indemnity Bond by the Trading Members/Clearing Members for all the Bank Accounts: TMs / CMs are required to provide a list of all their bank accounts to the Stock Exchanges (SEs)/ Clearing Corporations (CCs) and the SEs / CCs shall obtain an Undertaking cum Indemnity bond from the TM, the date of which is extended by 1 month i.e. till 31st October,

 

  • Relaxation in Timelines for Compliance with Regulatory Requirements: It has been decided to extend the timelines for compliance with the regulatory requirements by the trading members/ clearing members, mentioned in SEBI Circular as under-

 

Maintaining call recordings of orders/instructions received from clients

Extended till 31st December, 2020

KYC application form and supporting documents of the clients to be uploaded on system of KRA within 10 working days.

Period of exclusion shall be from March 23,2020 till December 31st, 2020

Cyber Security & Cyber Resilience Audit for the year ended March 31, 2020.

Extended till 31st December, 2020

 

Further vide Circular No. 24/20 dated 19th June; the above mentioned relaxations had been extended upto 30th September, 2020.

Now these relaxations have been further extended upto 31st December, 2020.