Sebi extends deadline for annual submissions by stock brokers, depository participants till Oct 31
The provisions of this circular are effective immediately. It mandates that stock brokers must submit their annual audited accounts by October 31. Additionally, depository participants (DPs) are required to provide their net worth certificates for the year ending March 31 by the same deadline.
New Delhi: Capital markets regulator on Thursday extended the deadline till for submitting the annual audited accounts and net worth certificates by and . According to a circular issued by Sebi, the markets watchdog has revised the submission deadline from September 30 to October 31 of the relevant year.This change aims to ease compliance burden and facilitate smoother business operations.
"As a step towards , it has been decided to revise the timeline to October 31," the Securities and Exchange Board of India (Sebi) said in the circular.
The provisions of this circular will come into force with immediate effect, it added.
The circular addressed key provisions for stock brokers and depository participants (DPs) that stock brokers must now furnish their annual audited accounts by October 31.
In addition, the depositories are required to submit their net worth certificates for the year ending March 31 by October 31.
The regulator has directed the stock exchanges/ depositories to notify their members and participants about the changes. They were also directed to update their bye-laws, rules, and regulations for the implementation of the decision.
Further, the regulator directed exchanges to communicate to Sebi regarding the status of the implementation of the provisions of this circular in their monthly development reports.
Source: Stocks-Markets-Economic Times
