Sebi extends timeline for RTAs, depository participants, brokers

New Delhi: Amid the coronavirus pandemic, regulator Sebi on Wednesday gave extension till September 30 to depository participants, share transfer agents and brokers for compliance with various regulatory requirements.

Through a circular, the regulator eased compliance requirement with regard to processing of demat request forms by issuer or registrar of share transfer agents (RTA) and depository participants (DP).

Under the norms, processing of demat request forms by issuer or RTA needs to be done within 15 days, while the same for depository participants is within seven days.

The period from March 23 till September 30 shall be excluded for computing the existing timelines for compliance, Sebi said in the circular.

Further, a 15-day period after September 30 has been allowed to registered depository participants to clear the backlog.

Sebi has also given time till September 30 to depository participants for submitting internal audit report for half-year ended March 31.

The markets watchdog has also relaxed compliance requirement pertaining to redressal of investor grievances, transmission of securities and closure of demat account.