Securities and Exchange Board of India has issued a circular regarding relaxation in timelines for compliance with regulatory requirements on 30th July 2021[1] to all recognize stock exchanges and clearing corporations, trading members, clearing members through stock exchanges, clearing corporations, and KYC registration agencies. the relaxation in timelines has been given because of the situation arising due to the COVID-19 pandemic. Securities and Exchange Board of India taking notice of the dog down imposed by the government and representations received from stock exchanges has earlier provided relaxation in timelines for compliance with various regulatory requirements by depository participants, clearing members, and trading members through a circular dated April 16, 2020[2], circular dated April 21, 2020[3], and circular dated April 24, 2020[4]. Later Other circulars were issued regarding timelines and periods of exclusions which provided for further extension for certain compliance requirements latest circular was dated June 30th, 2021[5].
The circular states that due to the prevailing situation of pandemics and representation received from stock exchanges The timelines for compliance with some regulatory requirements by KYC registration agencies, clearing members, and trading members will be extended.
S. No. 7 Is compliance that has been provided to trading members working from designated alternate locations and after execution of the order, the trading members and the Stock Exchange shall send a confirmation on the registered mobile number of the client immediately.
Section 11 (1) of SEBI Act, 1992 provides power to issue a circular to protect the interest of investors in Securities, regulate securities markets and promote development.
[1] Circular No.: SEBI/HO/MIRSD/DOP/P/CIR/2021/607
[2] Circular No.: SEBI/HO/MIRSD/DOP/CIR/P/2020/61
[3] Circular No.: SEBI/HO/MIRSD/DOP/CIR/P/20
[4] Circular No.: SEBI/HO/MIRSD/DOP/CIR/P/2020/72
[5] Circular No.: SEBI/HO/MIRSD/DOP/P/CIR/2021/58
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