Description

BSE/ICCL requires all Clearing Members to submit half yearly networth certificates as on March 31, 2026 via the Electronic Filing System (IEFS) by May 31, 2026.

Summary

The Indian Clearing Corporation Limited (ICCL) has issued Notice No. 20260416-7 directing all Clearing Members who have designated ICCL as their Designated Clearing Corporation to submit their half yearly networth certificate as on March 31, 2026. Submissions must be made online through the ICCL Electronic Filing System (IEFS) by May 31, 2026.

Key Points

  • All ICCL Clearing Members as on March 31, 2026 who have selected ICCL as Designated Clearing Corporation must submit the networth certificate.
  • Net worth requirement is the higher of Base Net worth or Variable Net worth, as per Chapter X of the SEBI (Stockbrokers) Regulations, 2026.
  • Members should refer to ICCL Notice No. 20260415-27 dated April 15, 2026 for clarification on ascertaining Net worth per SEBI Gazette Notification.
  • Documents to be submitted include the networth certificate, computation of base networth, and computation of variable networth as per ICCL-prescribed formats in the Annexures.
  • Submission must be done online via the IEFS portal: https://iefs.bseindia.in (path: networth certificate).
  • Non-compliance consequences are detailed in the attached Annexures.

Regulatory Changes

No new regulatory changes introduced. The notice references Chapter X of the SEBI (Stockbrokers) Regulations, 2026, which mandates that net worth for members shall be Base Net worth or Variable Net worth, whichever is higher.

Compliance Requirements

  • Submit half yearly networth certificate as on March 31, 2026 in the prescribed ICCL format.
  • Submit computation of base networth and variable networth as applicable.
  • Upload all documents through the IEFS portal at https://iefs.bseindia.in.
  • Refer to the User Manual (Annexure) for guidance on the submission process.
  • Contact iccl.membership@icclindia.com for clarifications.

Important Dates

  • Reference Date: March 31, 2026 (networth certificate as of this date)
  • Notice Date: April 16, 2026
  • Submission Deadline: May 31, 2026

Impact Assessment

This is a routine semi-annual compliance requirement applicable to ICCL Clearing Members. The impact is limited to operational compliance activity for clearing members. Failure to comply may result in regulatory action as outlined in the Annexures. No direct impact on trading or listed securities.

Impact Justification

Routine periodic compliance requirement for ICCL Clearing Members to submit networth certificates; non-compliance carries regulatory consequences but does not affect broader market operations.