The regulator has eased compliance timelines for stock brokers by extending the deadlines for submitting auditor-certified half-yearly net worth certificates, a requirement for those engaged in margin trading. Until now, brokers were required to file these certificates by April 30 and October 31 each year. Under the revised framework, the deadlines have been aligned with the financial results reporting cycle. Brokers must now submit the certificates within 60 days of March 31 (i.e., by May 31) and within 45 days of September 30 (i.e., by November 15).
This amendment to the master circular takes effect immediately. Recognised stock exchanges are directed to update their bye-laws, rules, and regulations accordingly and communicate the changes to their members. The regulator has invoked its statutory mandate to protect investor interests and ensure orderly regulation of the securities market while introducing this measure.
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