COVID: Sebi gives more time to brokers, clearing members for compliance with rules
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Markets regulator Sebi on Thursday extended timelines for compliance with certain regulatory requirements by trading members, clearing members and depository participants in view of the second wave of the COVID-19 pandemic.
The deadline for maintaining call recordings of orders or instructions received from clients has been extended till June 30, 2021, Sebi said in a circular.
Also, the regulator has given time till June-end to brokers for operating the trading terminals from designated alternate locations.
In addition, Sebi has extended time till July 31 with regard to submission of internal audit report as well as net worth certificate for half year ended March 2021, risk based supervision report, filing report on Artificial Intelligence (AI) and Machine Learning (ML) applications and making submission of cyber security and cyber resilience audit report for
: Tuesday, April 6, 2021, 4:08 PM IST
Exempt NCDEX, MCX, MSE, CDSL, NSDL and brokers from lockdown restrictions in Maharashtra, says stock brokers association
Stock Market
Exchanges namely NSE and BSE have been exempted from the partial lockdown ordered by the Maharashtra government. However, other exchanges like NCDEX, MCX, MSE; depositories namely CDSL and NSDL and broking services do not enjoy the same privilege.
Taking this into account, Association of National Exchanges Members of India (ANMI), the largest pan-India organisation comprising of over 900 stockbrokers, stated, âSince NSE and BSE are permitted to work, the intermediaries are also required to keep their offices open. Hence, we request the government to add stock brokers in the category of essential services to ensure they can provide services to their clients.â
Stock brokers seek relief from curbs for bourses smooth functioning
By IANS |
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Mumbai, April 5 : The Association of National Exchanges Members of India (ANMI), the pan-India organisation comprising of over 900 stock brokers, has approached the Maharashtra government seeking relief from the fresh curfew and lockdown measures.
To contain the spread of Covid-19 infections in the state, the Maharashtra government on Sunday imposed partial lockdown as a precautionary measure from April 5 to 30.
However, only leading exchanges NSE and BSE and banks, etc, have been exempted from the partial lockdown.
Contending that stock broking is a systematically important part of financial services industry and crucial for exchange operations, ANMI, in its submission to the Maharashtra government, has urged it to include financial market intermediaries stock brokers as essential service providers.
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Days after finance minister (FM) Nirmala Sitharaman spoke about trading halt at the National Stock Exchange (NSE) and the ‘cost’ of such incidents for the financial markets, the ministry of finance (MoF) has asked the market regulator to share its finding based on the root cause analysis that NSE has been asked to submit within 21 days.
FM Sitharaman held a meeting on Thursday to discuss the issue with key secretaries and SEBI chairman Ajay Tyagi, who is understood to have participated through video-conferencing. We learn that secretaries from the department of economic affairs (DEA), dept of financial services (DFS), department of investment and public asset management (DIPAM) and the revenue secretary were present in the meeting.
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