SEBI provides relaxation in timelines for compliance with regulatory requirements

Jun 30, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Securities and Exchange Board of India (SEBI) on June 30, 2020 provides relaxation in timelines for compliance with regulatory requirements by the depository participants (DPs), Registrars to an Issue & Share Transfer Agents (RTAs). Due to the pertaining situation of COVID-19 in the country, the authorities have decided to extend the timelines for certain compliances with regulatory requirements by DPs/ RTAs. 

Following compliance timelines have been extended:-

 Processing of the demat request form by the issuer or RTA and the processing of the demat request form by the participants timelines have been extended to July 31, 2020. Further, 15-day period after July 31, 2020 is given to all the depositories and DPs to clear the back log. 

 The half-yearly Internal Audit Report shall be submitted by the DPs by July 31, 2020 for March 31, 2020. 

 Closure of the demat account shall be done by July 31, 2020. A 15-day period shall be provided after July 31, 2020 for the purpose of clearing the back logs. 

[Circular No: SEBI/HO/MIR SD/DOP/CIRP/2020/112] 


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