Sebi extends Samuhik Prativedan Manch to clearing corporation members

Markets regulator Sebi on Thursday extended its technology-based common reporting mechanism, Samuhik Prativedan Manch, to members of clearing corporations, a move aimed at reducing duplication in compliance reporting and easing the cost of doing business for market intermediaries.

The move will benefit clearing members (CMs) that are also stock brokers, and have memberships with multiple stock exchanges and clearing corporations.

Currently, such entities are required to submit the same compliance reports separately to each exchange and clearing corporation, resulting in duplication and multiple reporting requirements.

Common platform to streamline compliance reporting

"With the extension of Samuhik Prativedan Manch to such CMs, their compliance reports submitted to the platform will be consumed by all CCs. Hence, it will do away with multiple reporting to CCs where they are registered. This is expected to substantially reduce compliance costs of CMs," Sebi said in a statement.

The common reporting platform will be implemented in a phased manner. In the first phase, beginning September 30, 14 compliance reports, accounting for around 60 per cent of the reporting requirements, will be submitted through the platform by CMs that are also stock brokers.

Second phase planned from December 2026

The second phase, proposed to be implemented from December 31, 2026, will explore bringing the remaining compliance reports of CMs onto the common platform.

Securities and Exchange Board of India (Sebi) will also evaluate the feasibility of extending the mechanism to Professional Clearing Members (PCMs) that hold memberships with multiple clearing corporations.

Around 1,066 clearing members to benefit

Around 1,066 CMs that are also stock brokers and have multiple memberships with stock exchanges and clearing corporations are expected to benefit from the initiative through lower compliance costs and simplified reporting requirements, Sebi said.

"Sebi, in consultation with Clearing Corporations, is now extending the Samuhik Prativedan Manch to members of the Clearing Corporations (CCs), who are also stock brokers, to submit their compliance reports," the regulator said.

The platform was introduced by Sebi and stock exchanges in July 2025 for stock brokers. The extension marks a further expansion of the common reporting framework across market intermediaries.