Sebi extends compliance deadlines for bond managers, trading members and clearing agents

In the opinion of the country’s coronavirus pandemic, the Securities and Exchange Commission of India (Sebi) on Thursday extended the compliance deadlines for bond managers, trading and clearing members. The deadlines for maintaining call records of orders or instructions received from customers have been extended until February 28, 2021.

According to the rules, the KYC (Know Your Client) application form and customer supporting documents must be uploaded to a KRA (KYC Registration Agency) system within 10 days. In this regard, the market regulator has stated that the exclusion period will be from 1 January 2021 to 28 February 2021. A period of 15 days will be granted after 28 February to clear the arrears.

“Stock exchanges and the clearing corporation have been asked to instruct their members to eliminate arrears, if any, by 31 January 2021, in respect of the KYC application form and the supporting documents of the customers to be uploaded to the KRA system. by members, ‚ÄúSebi said.

The new due diligence requirements for bond managers regarding the creation of guarantees in the issuance of listed debt securities will now apply from April 1, 2021, the regulator said.

Sebi also extended the date of implementation of uniformity in the applicability of NAV to the realization of funds until 1 February 2021. Previously, the date given for compliance was 1 January.

The decision to extend the deadlines for compliance with regulatory requirements was made given the prevailing situation due to the COVID-19 pandemic and the representation received from the stock exchanges, Sebi said in a circular.

Subscribe to Mint newsletters

* Please enter a valid email

* Thank you for subscribing to our newsletter.