SEBI sets new deadline for annual submissions by stock brokers, depository participants

Capital markets regulator SEBI on Thursday extended the deadline till October 31 for submitting the annual audited accounts and net worth certificates by stock brokers and depository participants.

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 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 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.