The Securities and Exchange Board of India has issued circular dated 30.06.2021 vide which the timelines for various regulatory compliances by the Trading Members/Clearing Members/KYC Registration Agencies are extended, as under:
|S. No.||Submission/ compliance||Current timeline/Period of exclusion||Proposed timeline/Period of exclusion|
|1.||Maintaining call recordings of orders/ instructions received from clients||Till June 30, 2021||Till July 31, 2021|
|2.||Client Funding Reporting|
|3.||To operate the trading terminals from designated alternate locations|
|4.||KYC application form and supporting documents of the clients to be uploaded on system of KRA within 10 working days||Till June 30, 2021, documents may be uploaded on to the system of KRA within 15 working days.
*A 30-day time period is provided to SEBI Registered Intermediary after June 30, 2021 to clear the backlog.
|Till July 31, 2021, documents may be uploaded on to the system of KRA within 15 working days.
*A 30-day time period is provided to SEBI Registered Intermediary after July 31, 2021, to clear the backlog.
|5.||Issue of Annual Global Statement to clients||Till June 30, 2021. *Relaxation is provided only if the client has requested for a physical statement.||Till July 31, 2021. *Relaxation is provided only if the client has requested for a physical statement.|
Further, Stock Exchanges/Clearing Corporations and Depositories are directed to bring the provisions of this circular to the notice of their members/ participants and disseminate the same on their websites.
*Tanvi Singh, Editorial Assistant has put this story together.