To
All Professional Clearing Members,
This is with reference to notice no. 20240624-57 dated June 24, 2024 inter-alia containing SEBI’s circular ref. no: SEBI/HO/MRD/TPD/P/CIR/2024/84 dated June 20, 2024 on System Audit of Professional Clearing Members (PCMs).
All PCMs are hereby informed that SEBI has extended timelines for submission of System Audit Report for FY 2023-24 till August 31, 2024. Audit report for FY 2023-24 shall be submitted by PCMs to ICCL by September 30, 2024 after approval of the Governing Board (or equivalent governance structure as applicable to the entity).
From FY 2024-25 onwards, the system audit shall be completed within two months from the end of the audit period. The Audit report shall be submitted to ICCL within one month of completion of the Audit,
All PCMs are requested to take note and ensure compliance.
For and on behalf of the Indian Clearing Corporation Limited
Anita Bhatia
Chief Regulatory & Compliance Officer
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