Categories: Business

Brokers ask Sebi to delay inspections due to covid

Photo: PTI (FILE)

Brokers ask Sebi to delay inspections

new Delhi. The Association of National Exchanges Members of India (ANMI), a share broker's association, has urged capital market regulator SEBI to look into all kinds of investigations by the corona virus epidemic by the end of this year or until the situation returns to normal. Work should be suspended. This request has been made by ANMI at a time when the stock markets have started the investigation of share broker. In a letter sent to the SEBI and the stock market management, the association has written that the exchanges are asking to provide huge data. At a time when due to Kovid-19, share broker employees are working from different places and from their home, it is very difficult to collect such data. Many brokers are lacking facilities and many issues related to coordination are being hampered. Many cities still have lockdown while curfew is in place.

The Broker Association has stated that in such a situation, employees cannot reach the office as there is also a lack of transport facility. In addition, there is a risk of infection in public places. The truth is that all brokers are doing their daily work with very few employees so that their daily work somehow continues. There are more than 900 stock brokers associated with ANMI. It says that its members are providing information to the stock exchanges on a weekly, monthly, half-yearly and yearly basis. This allows the availability of information with the stock markets, so that they can analyze and reach the results.

Keeping in mind the current situation, the Broker Association has requested to suspend all investigation work till December 2020 or till the situation becomes normal. The union has said that share brokers are working with limited employees, in such a situation, they should not be pressured to come to office and provide such information in which they face difficulties.

This post was published on July 20, 2020 8:13 pm

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