Tue. Jul 14th, 2020

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Sebi lightens the burden of brokers for submission of reports

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The Securities and Exchange Board of India (Sebi) announced to extend the date of brokers’ reports submission from 8th April to 31st May, 2020, concerning client funding and system audit in the wake of the COVID-19 pandemic. The decision was taken after getting a representation from stock exchanges.

Brokers have to submit reports on client funding and Artificial Intelligence (AI) and Machine Learning (ML) applications on or by the date provided.

The due date to submit a report on risk-based supervision and compliance certificate margin trading has also been extended to 30th June 2020.

Sebi declared that the decision of extending the due date for regulatory filings and compliance requirements by their trading and clearing members is because of the COVID-19 catastrophe and the extension of the lockdown.

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