Coronavirus: NSE gives more time to brokers for submission of reports

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Published: April 9, 2020 11:11:57 AM

NSE has relaxed compliance requirements for brokers to submit reports pertaining to client funding and net worth certificates in the wake of prevailing coronavirus pandemic.

The market will be closely looking at how the businesses will align themselves after the Covid-19 pandemic is contained and how they would reinvent themselves in the long-run.However, the due date for submitting the quarterly report on incidence of cyber-attacks and threats will remain unchanged.

The National Stock Exchange (NSE) has relaxed compliance requirements for brokers to submit reports pertaining to client funding and net worth certificates in the wake of prevailing coronavirus pandemic.

However, the due date for submitting the quarterly report on incidence of cyber-attacks and threats will remain unchanged  15 days after the end of the quarter, NSE said in a circular.

The exchange has given time till April 30 to brokers for submitting reports on client funding, artificial intelligence (AI) and machine learning (ML) applications and quarterly compliance certificate.

The due dates for submitting report on AI and ML applications and quarterly compliance certificate was April 15, while the same for client funding was April 7. Further, NSE has extended time by one month, till June 30, for submission of report on risk-based supervision, audit as well as net worth certificate for members for half year ending March, 2020. These reports were required to be submitted at the end of May.

Also, reports on system or cyber audit can now be submitted till July 31. Earlier, it was required to be submitted by June 30.

Besides, the exchange has given relaxation of one month till May 31 for submitting compliance certificates on margin trading for half year ending March, 2020.

In view my of the ongoing lockdown, the due dates for submitting these reports have been extended, the exchange said.

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