SEBI further extends timelines for compliance with regulatory requirements

SEBI further extends timelines for compliance with regulatory requirements

SECURITIES & EXCHANGE BOARD OF INDIA

CIRCULAR

SEBI/HO/MIRSD/DOP/CIR/P/2020/112

June 30, 2020

To,

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.Registrars to an Issue & Share Transfer Agents (RTA)

Madam / Sir,

Subject: Relaxation in timelines for compliance with regulatory requirements

1. In view of the situation arising due to COVID-19pandemic, lockdown imposed by the Government and  representations received from the  Depositories, SEBI  had  earlier provided relaxations in timelines for compliance with various regulatory requirements by the depository participants(DPs) / Registrars to an Issue & Share Transfer Agents (RTAs), vide circular nos. SEBI/HO/MIRSD/DOP/CIR/P/2020/62 dated April 16, 2020, and SEBI/HO/MIRSD/DOP/CIR/P/2020/72 dated April 24, 2020.

2. In  view  of  the prevailing situation due  to  COVID-19  pandemic and  representation received from the Depositories, it has been decided to further extend the timelines for compliance with the regulatory requirements by DPs / RTAs, mentioned in the SEBI circulars, as under:

3. Vide circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/101 dated June 19, 2020, SEBI, inter-alia, 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.

4. All other conditions specified in the aforementioned circulars shall continue to remain applicable.

5. 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.

6. 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, andto regulate the securities markets.

Yours faithfully

D Rajesh Kumar
General Manager
Market Intermediaries Regulation and Supervision Department

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