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Brokers ask Sebi to delay inspections due to covid

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MUMBAI : Stock brokers, through the industry body Association of National Exchange Members of India (ANMI), have written to the Securities and Exchange Board of India (Sebi) and exchanges seeking postponement of inspections till the end of the year or till the situation is back to normal, against the backdrop of the pandemic.Exchanges in the capacity of first line regulators conduct annual inspections of brokers and trading members.

If the inspections point to any deficiencies such as unauthorized trades or mis-utilization of client securities, it becomes the basis for disciplinary proceeding or regulatory action.Exchanges started these inspections earlier this month.“The exchanges have asked for humongous data which is difficult to compile.

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