Samuhik Prativedan Manch launched for stock brokers to submit their compliance reports

Mumbai (Maharashtra) [India], July 21 : SEBI and stock exchanges have introduced a technology based common reporting mechanism (Samuhik Prativedan Manch), offered by NSE for stock brokers to submit their compliance reports.

SEBI encourages a regulatory framework that is simple, transparent, and cost-effective resulting in ease of doing business for the intermediaries and in turn ease of doing investments for investors.

Streamlining and rationalising the compliance reporting is a key measure for achieving ease of doing business, SEBI said Monday.

Stock brokers who are registered with multiple stock exchanges are currently required to submit compliance reports at all the Exchanges with which they are registered.

They will now be able to submit compliance reports to the Samuhik Prativedan Manch at one exchange instead of multiple exchanges, SEBI said today.

The Samuhik Prativedan Manch will eliminate the requirement to submit compliance reports to multiple exchanges where a stock broker is registered.

This is expected to substantially reduce stock brokers' compliance costs.

The mechanism would be implemented in a phased manner with submission of 40 compliance reports in the first phase being implemented under Samuhik Prativedan Manch with effect from August 01, 2025.

As a result, close to a thousand stock brokers (approximately 990) who have multiple membership with NSE and other stock exchanges would benefit from this initiative, SEBI said.

"The later phases will standardise the remainder of the document submissions and encompass them in this centralised reporting platform, across the remainder of the brokers including Commodity brokers," the markets regulator said.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor