The National Stock Exchange (NSE) on July 11, 2024, notified regarding the extension of the timeline for the system audit of Professional Clearing Members (PCMs).
The following has been stated namely: -
• It is in reference to SEBI circular ref. no: SEBI/HO/MRD/TPD/P/CIR/2024/84 dated June 20, 2024, and NCL circular ref. no. NCL/CMPL/62540 dated June 20, 2024, regarding System Audit of Professional Clearing Members (PCMs).
• It states that the extended timelines for submission of the System Audit report for FY 2023-24 shall be completed by August 31, 2024.
• It states that audit reports for FY 2023-24 shall be submitted by PCMs to Clearing Corporations (CCs) by September 30, 2024.
• It also states that further for Financial Year 2024-25 onwards, the submission shall be as per the timelines prescribed by SEBI in its circular dated June 20, 2024.
[Circular no. - NCL/CMPL/62910]
