Description

BSE extends the deadline for Trading Members and Clearing Members to submit their annual audited networth certificate, auditor's report, and audited annual accounts for the financial year ending March 31, 2025.

Summary

BSE has issued a circular extending the deadline for Trading Members and Clearing Members to submit their annual audited networth certificate, auditor’s report, and audited annual accounts for the financial year ended March 31, 2025. This extension provides additional time for members to complete their regulatory filing requirements and maintain compliance with exchange regulations.

Key Points

  • Extension granted for submission of annual audited financial documents for FY 2024-25
  • Applies to both Trading Members and Clearing Members of BSE
  • Documents required: Annual Audited Networth Certificate, Auditor’s Report, and Audited Annual Accounts
  • Financial year covered: April 1, 2024 to March 31, 2025
  • Relief measure to facilitate compliance

Regulatory Changes

No new regulatory changes introduced. This is an administrative extension of an existing compliance requirement to provide additional time for members to fulfill their annual financial reporting obligations.

Compliance Requirements

Trading Members and Clearing Members must submit:

  1. Annual Audited Networth Certificate for FY 2024-25
  2. Auditor’s Report for FY 2024-25
  3. Audited Annual Accounts for FY 2024-25

Note: Members are required to ensure timely submission within the extended deadline to avoid non-compliance penalties and maintain good standing with the exchange.

Important Dates

  • Financial Year Covered: April 1, 2024 to March 31, 2025
  • Extended Submission Deadline: To be confirmed (refer to the detailed circular)
  • Circular Issue Date: October 31, 2025

Impact Assessment

Operational Impact:

  • Positive relief for Trading and Clearing Members who may be facing challenges in completing audit processes
  • Reduces immediate compliance pressure and potential penalties for late submission
  • Allows members additional time to ensure accuracy and completeness of financial reporting

Market Impact:

  • Low to no direct market impact as this is an administrative compliance matter
  • Reflects exchange’s understanding of operational challenges faced by members
  • Maintains regulatory framework while providing practical flexibility

Compliance Impact:

  • Members should utilize the extension period effectively to complete all required documentation
  • Failure to submit even within extended deadline may result in stricter penalties
  • Important for members to coordinate with their auditors to meet the new deadline

Impact Justification

Extension of submission deadline for annual audited documents provides relief to Trading and Clearing Members, allowing more time for compliance without immediate penalties. Important for operational compliance but not market-moving.