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Regulator relaxes timelines for stock brokers to submit auditor-certified half-yearly net worth certificates required to offer margin trading. Previously due by April 30 and October 31, the deadlines are harmonized with financial-result timelines: certificates now due within 60 days after March 31 (May 31) and within 45 days after September 30 (November 15). The amendment to the master circular is effective immediately. Recognised stock exchanges must amend bylaws/rules as needed and notify members. The measure is issued under the regulator's statutory powers to protect investors and regulate the securities market.
Regulator relaxes timelines for stock brokers to submit auditor-certified half-yearly net worth certificates required to offer margin trading. Previously due by April 30 and October 31, the deadlines are harmonized with financial-result timelines: certificates now due within 60 days after March 31 (May 31) and within 45 days after September 30 (November 15). The amendment to the master circular is effective immediately. Recognised stock exchanges must amend bylaws/rules as needed and notify members. The measure is issued under the regulator's statutory powers to protect investors and regulate the securities market.
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