Sebi Gives More Time To The Market Intermediaries To Comply With Rules

Markets watchdog Sebi on Friday extended the relaxation given to market intermediaries for compliance with certain regulatory requirements till June 30 in view of the COVID-19 situation.

The regulator has given relaxation in time period for certain activities, including handling investor grievances and SCORES complaint and processing of demat requests, Sebi said in a circular. In addition, the relaxation will also be applicable for processing of remat requests, transmission requests, request for issue of duplicate share certificates and requests for name deletion as well as name change.

In addition, the relaxation will be applicable for processing of requests for consolidation, split, replacement of share certificates, amalgamation of folios and handling investor grievances and SCORES complaint. "Relaxation is hereby being given to intermediaries/ market participants w.r.t. compliance with the prescribed timelines which has been extended to June 30, 2022, in view of the COVID-19 situation," Sebi said. Accordingly, the intermediaries/ market participants may take an additional 30 days over the prescribed timelines for completion of these service requests.

(PTI)