The Securities and Exchange Board of India vide its notification dated 31st December 2020 has decided to extend the timelines for compliance with the following regulatory requirements by the trading members/clearing members, as under:
The timeline for maintaining call recordings of orders/instructions received from clients has been extended to 28th February 2021.
The norms for KYC application form and supporting documents of clients need to be uploaded on a system of KRA (KYC Registration Agency) within 10 days however Sebi has now excluded the period from January 1, 2021 to February 28, 2021 and a 15-day period after February 28 will be given to clear the backlog.
Further SEBI has directed the members to clear the backlog, if any, by January 31, 2021, with regard to KYC application form and supporting documents of the clients to be uploaded on system of KRA by the members. The decision to extend timelines for compliance with regulatory requirements has been taken in view of the prevailing situation due to the COVID-19 pandemic and representation received from stock exchanges.
