Thread by @SandeepParekh, ThreadAll relaxations provided by SEBI a) General b) Exchanges and market infra [...]

Thread
All relaxations provided by SEBI a) General b) Exchanges and market infra c) listed companies d) takeover regs e) funds (MF/AIF/PMS/FPI), f) intermediaries (rating, offers and takeovers) - organised by theme not date. 1/n

General relaxations by SEBI of Margin penalties, NISM certification compliance, call recording mandate of brokers, debt mutual fund exposure limits. See circular for details. 2/n
https://www.sebi.gov.in/media/press-releases/mar-2020/sebi-s-decisions-to-reduce-compliance-burden-on-market-participants_46414.html

Exchanges - restrictions on Market Wide Position Limit, margin increases and short positions etc. (discussed previously) 3/n
https://www.sebi.gov.in/media/press-releases/mar-2020/regulatory-measures-taken-by-sebi-in-view-of-ongoing-market-volatility_46389.html

All listed entities - various filings under Listing Regulations (LODR) relaxed. AGM by 30 Sept. Committee meetings of Board - 3 months relaxation for date of meeting. See circulars for details. 4/n
https://www.sebi.gov.in/legal/circulars/mar-2020/further-relaxations-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-lodr-and-the-sebi-circular-dated-january-22-2020-relating-_46436.html

Also under LODR - relaxation of Secretarial compliance report (1 month), Shareholding pattern (3 wks), financial results (45 days for Q/30 days for Annual), Board/Audit meeting freq 5/n https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-due-to-the-covid-19-virus-pandemic_46360.html

Also under LODR (already covered) 6/n
https://www.sebi.gov.in/media/press-releases/mar-2020/sebi-relaxes-compliance-of-certain-provisions-of-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-due-to-the-covid-19-virus-pandemic_46362.html

Debt paper relaxations under LODR 7/n
https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-from-compliance-with-certain-provisions-of-the-sebi-listing-obligations-and-disclosure-requirements-regulations-2015-and-certain-sebi-circulars-due-to-the-covid-19-virus-pandemic-cont-_46395.html

All listed companies - Takeover disclosures for year end shareholding relaxed upto 1 June 8/n
https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-from-compliance-with-certain-provisions-of-the-sast-regulations-2011-due-to-the-covid-19-pandemic_46442.html

All Mutual Funds and AMCs - extension of date for NFO, half yearly disclosure dates (by 1 month), some new policies on investments etc (by 1 month). See circular for details. 9/n
https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-in-compliance-with-requirements-pertaining-to-mutual-funds_46419.html

Mutual Funds - relaxation of Stewardship code applicability extended to 1 July. 10/n
https://www.sebi.gov.in/legal/circulars/mar-2020/extension-of-deadline-for-implementation-of-the-circular-on-stewardship-code-for-all-mutual-funds-and-all-categories-of-aifs-due-to-the-covid-19-pandemic_46451.html

Relaxation for AIFs - regulatory filing dates relaxed (30 March) 11/n
https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-in-compliance-with-requirements-pertaining-to-aifs-and-vcfs_46462.html

Relaxation for Portfolio Managers - monthly reporting date extended and 13 Feb 2020 Circular extended by 2 months (30 March) 12/n
https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-in-compliance-with-requirements-pertaining-to-portfolio-managers_46460.html

FPI relaxation - relaxation with filing originals till June end. (30 March) 13/n
https://www.sebi.gov.in/legal/circulars/mar-2020/temporary-relaxation-in-processing-of-documents-pertaining-to-fpis-due-to-covid-19_46455.html

Rating Agency - Based on moratorium offered by RBI for loan servicing, default should be based on application of mind. Ext till period of moratorium. Also rating action can be delayed and 30 day delay in annual and semi-annual disc. 14/n
https://www.sebi.gov.in/legal/circulars/mar-2020/relaxation-from-compliance-with-certain-provisions-of-the-circulars-issued-under-sebi-credit-rating-agencies-regulations-1999-due-to-the-covid-19-pandemic-and-moratorium-permitted-by-rbi-_46449.html

All intermediaries - specially those filing offer documents under ICDR Regulations - can file electronically. 15/n
https://www.sebi.gov.in/filings/public-issues/mar-2020/easing-of-operational-procedure-division-of-issues-and-listing-cfd_46443.html

All intermediaries filing reports under takeover regulations can make such filings through email cfddcr@sebi.gov.in 16/n
https://www.sebi.gov.in/filings/takeovers/mar-2020/easing-of-operational-procedure_46440.html

Overall - SEBI had done a great job in relaxing several key deadlines and filings. It remains on its toes and will opportunistically introduce further rationalisations. Any further ideas? Pl add them below -will be happy to pass them on. END 17/n

Latest Threads Unrolled: