SEBI To Bring Clearing Members Under Samuhik Prativedan Manch From September 30

On 17 September, the Securities and Exchange Board of India (SEBI) announced the expansion of the Samuhik Prativedan Manch, a technology-based common reporting mechanism, to Clearing Members who are also stock brokers, to reduce multiple compliance submissions.

SEBI said the extension would allow compliance reports submitted by such Clearing Members through the common platform to be used by all Clearing Corporations with which they are registered, eliminating the need for separate submissions to each entity.

The Samuhik Prativedan Manch was introduced on 18 July 2025 as a common reporting platform for stock brokers. It enabled brokers registered with multiple Stock Exchanges to submit compliance reports through a single platform instead of separately to each Exchange.

SEBI noted that Clearing Members who are also stock brokers and are registered with multiple Stock Exchanges and Clearing Corporations currently have to submit the same compliance reports separately to each entity, resulting in multiple reporting requirements.

The extended system will be introduced in phases. From 30 September 2026, in the first phase, Clearing Members who are also stock brokers will be able to submit 14 compliance reports through the platform, covering around 60% of their reporting requirements.

In the second phase, SEBI will explore bringing the remaining compliance reports of Clearing Members under the common reporting platform. It will also assess extending the platform to Professional Clearing Members having memberships with multiple Clearing Corporations. The second phase is proposed to begin from 31 December 2026.

Around 1,066 Clearing Members who are also stock brokers and have multiple memberships with Stock Exchanges and Clearing Corporations are expected to benefit from the initiative, with the mechanism covering around 60% of their reporting requirements and reducing compliance costs.