On Oct. 6, IND NSE advised members to submit networth certificate.
IND NSE reminded members who have availed approval for offering margin trading facility to submit half yearly networth as on Sep. 30, 2023, by Oct. 31, 2023.
Other members may submit the certificate electronically on ENIT by Nov. 30, 2023.
Follows IND NSE Mar. 2023 issued networth certificate submission reminder, #167670.
Follows IND NSE Sep. 2022 issued a circular revising enforcement process, #147197.
Submission
The link for submitting networth has been made available on ENIT - new-compliance.
In case of any shortfall in networth as on Sep. 30, 2023, members should submit a revised networth certificate as on a subsequent date meeting the minimum required networth, along with the original networth certificate before the due date.
Disciplinary actions shall be initiated if the certificate is not submitted by due date.
Oct. 23, 2023 IND ICCL Networth Certificate
On Oct. 23, 2023, IND ICCL reminded members to submit half-yearly networth certificate, applies to those who have chosen ICCL as designated clearing corporation.
Networth certificates should be submitted in the specified format to ICCL.
For members who have not designated ICCL in interoperable segments, networth requirement will be checked when they select ICCL as designated clearing corporation.
Clearing members shall submit networth certificate, base networth, variable networth computations as of Sep. 30, 2023 in prescribed formats, no later than Nov. 30, 2023.
Mar. 2024 Submission Reminder
On Mar. 28, 2024, IND NSE advised members to submit the half yearly networth certificate as on Mar. 31, 2024 electronically through ENIT by May 31, 2024.
Submission must be by Apr. 30, 2024, for members who have availed approval for offering margin trading facility and by May 31, 2024, for other members.
For the purposes of calculation of variable networth, cash balance would include client cash /FDR/BG consolidated daily by the member across the exchanges and segments.
If the reported networth is less than the minimum networth required or has a variation of 25% or more as compared to the last report, members are required to explain why.
Non-submission or late submission of networth certificate may result in penalties.
Apr. 3, 2024 Compliance Reminder
On Apr. 3, 2024, IND NSE said link for submitting networth certificate is available.
Reminded members to strictly adhere to the timelines that were stipulated previously.
In case of any shortfall in networth as on Mar. 31, 2024, members should submit a revised networth certificate as on a subsequent date, meeting the minimum required networth along with original networth certificate as on Mar. 31, 2024 before due date.
Apr. 9, 2024 IND ICCL Networth Certificate
On Apr. 9, 2024, IND ICCL required members who have selected ICCL as designated clearing corporation to submit half yearly networth certificate as on Mar. 31, 2024.
Details of the documents required to be submitted are in the attached annexures.
Clearing members are required to upload networth certificate, computation of base networth, and variable networth, online through electronic filing system by May 31.
Apr. 10, 2024 Submission Link
On Apr. 10, 2024, IND NSE advised members to comply with circular of Apr. 3, given the link for submitting networth has been made available on ENIT-NEW-COMPLIANCE.
May 2024 Half Yearly Networth Certificate
On May 24, 2024, IND NSE instructed members to submit certificate electronically via Electronic NSE Interface for Trading Members (referred to as ENIT), by May 31, 2024.
Plus, comply with regulatory requirements, to avoid any penalties, disciplinary action.
Document dated May 24, 2024, received from IND NSE May 25, summarized May 28.
Sep. 2024 Submission Deadline
On Sep. 26, 2024, IND NSE reminded members must maintain minimum networth and submit a half yearly networth certificate by Nov. 30, 2024, through ENIT.
Members offering margin trading must submit networth certificate by Oct. 31, 2024.
No additional time will be granted for submitting certificates beyond stated deadlines.
Members must provide reasons if reported networth is below minimum requirement or if it varies by 25% or more compared to the previous half-yearly submission.
If there is shortfall as on Sep. 30, 2024, revised certificate meeting minimum requirement must be submitted along with original certificate before due date.
Non-submission of networth certificate or failure to submit a revised certificate for any shortfall will lead to immediate withdrawal of trading rights or margin trading facility.
Document dated Sep. 26, 2024, was received on Sep. 27 due to a fixed feed.
