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SEBI extends fee remittance time for CSE members

Our Bureau

Kolkata , Jan. 12

SEBI has written to Calcutta Stock Exchange on payment of fees by its members, changing the deadline for the first remittance to early February.

The letter, from the Market Intermediaries Regulations & Supervision Department, refers to a recent SEBI circular that advised the exchange to collect fees from October 1, 2006. Such fees were to be remitted to the regulator beginning with January 5.

It was represented that development and testing of software may need some more time, which has now prompted SEBI to extend the date of first remittance to February 5.

Subsequently, the fifth working day of the following calendar month as specified in clause 5(2) of Schedule 111 A of SEBI (Stock Brokers and Sub Brokers) (Third Amendment) Regulations 2006, will be applicable, the regulator has said.

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