Legal UpdatesSecurity Laws

SEBI extends timeline for Trading members & Clearing Members to submit Undertaking cum Indemnity bond

SEBI Updates

SEBI extends timeline for Trading members & Clearing Members for submitting undertaking  cum indemnity  bond by a period of one month i.e. till October 31, 2020. As per clause  9  of  SEBI  circular SEBI/HO/MIRSD/DPIEA/CIR/P/2020/115 dated July 01, 2020  TMs / CMs needs to provide a  list  of  all  their  bank  accounts to  the Stock  Exchanges / Clearing Corporations ( CCs) and the SEs / CCs to obtain an Undertaking cum Indemnity bond from the TM within 90 days from July 01, 2020.  

Further, SEBI also provides flexibility to the SEs/ CCs to modify the Undertaking cum Indemnity bond they need to take from TMs/ CMs and suitably modify the draft undertaking wherever required.

 

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