SEBI extends deadline for annual submission by stockbrokers, depository participants to October 31

New Delhi: Capital markets regulator Sebi on Thursday extended the deadline for submission of annual audited accounts and net worth certificates by stockbrokers and depository participants till October 31. According to a circular issued by SEBI, the market watchdog has revised the submission deadline from September 30 to October 31 of the respective year.

The change is intended to ease the compliance burden and facilitate smooth business operations.

“As a step towards ease of doing business, it has been decided to revise the timeline to October 31,” the Securities and Exchange Board of India (Sebi) said in a circular.

The provisions of this circular will come into effect with immediate effect, it added.

The circular addressed key provisions for stockbrokers and depository participants (DPs) that stockbrokers will now have to file their annual audited accounts by October 31.

In addition, depositories are required to submit their net worth certificates by October 31 for the year ending March 31.

The regulator has directed stock exchanges/depositories to notify their members and participants about the changes. They were also directed to update their by-laws, rules and regulations to implement the decision.

Further, the regulator directed the exchanges to communicate to SEBI about the status of implementation of the provisions of this circular in their monthly progress reports.