This is with reference to Exchange circular no 20220310-8 dated March 10, 2022, pertaining to SEBI Gazette Notification No. SEBI/LAD-NRO/GN/2022/73 dated February 23, 2022.
As specified in the ‘Table 1’of the said circular, the revised Networth requirement as stated therein would be applicable to the Members from February 23, 2023 and February 23, 2024 respectively as per the aforesaid SEBI gazette notification.
Members are requested to adhere and comply with the applicable Networth (i.e., higher of the Base Networth or Variable Networth) as stated in the aforesaid SEBI gazette notification with effect from February 23, 2023.
Accordingly, Members are requested to note that the reporting requirement as per the above-mentioned SEBI gazette notification would be applicable from Half Yearly Networth submission for March 31, 2023 onwards. The period to be considered for ascertaining Variable Networth as on March 31, 2023, would be the previous six months i.e., October 01, 2022 to March 31, 2023.
The applicable formats for Networth submission and FAQs are provided as per the below mentioned annexures:
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Annexure
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List of Documents
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Annexure I
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Revised Networth requirement & Formats for Networth submission
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Annexure II
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FAQs on clarification ascertaining Networth as per said SEBI Gazette Notification
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Members are requested to take note of and ensure compliance with the above regulatory requirements.
Trading Members are requested to take note of the same.
Johnson Chiriyath Abhijit Pai
Addl. General Manager Dy.Gen.Manager
Membership Operations Membership Compliance & Investor Services
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