SEBI relaxes compliance rules for brokers, depository participation

Market regulator SEBI on Tuesday relaxed compliance requirements for brokers and depository partners. This exemption has been given for the submission of internal as well as system audit reports in view of the coronavirus epidemic. The Securities and Exchange Board of India (SEBI) said in a circular that the decision has been taken after a request from the stock exchanges and depositories in this regard. The regulator has given brokers up to December 31 to submit a system audit report with a half-yearly net worth certificate, the internal audit report for the half-year ended September 30, 2020. In addition, brokers have been given time till January 31 to submit half-yearly reports on cyber security and measures to combat cyber-attacks. SEBI has given this relief in view of the coronavirus crisis.