The Multi Commodity Exchange of India Limited (MCX) on June 05, 2026, issued circular on Submission of Action Taken Report for non-compliance(s) reported in the Internal Audit Report.
The circular refers to the framework introduced for closure of non-compliances identified in Internal Audit Reports, as per the earlier Exchange circular dated December 02, 2025. Trading Members are required to address and close all reported non-compliances within two months from the due date of submission of the Internal Audit Report. For the half-year ended March 31, 2026, the deadline for submitting the Action Taken Report (ATR) is July 31, 2026.
The Action Taken Report must be certified by an empanelled Internal Auditor, confirming the compliance status. The certification should include verification based on at least one month of sample data. To facilitate this process, a help file for electronic submission of the ATR through the Member Portal has been provided.
Members are advised that failure to close observations or submit the ATR within the stipulated timeline will result in monetary penalties or disciplinary action, as per the Exchange circular dated April 17, 2026. In cases of critical non-compliances such as shortfall in client funds, net worth deficiencies, or offering assured returns, immediate regulatory action will be taken without waiting for ATR submission.
Finally, it is clarified that the ATR will be considered successfully submitted only after it is formally uploaded by the Member and an acknowledgment email is received from the Exchange. Reports merely saved in the system or submitted only by the auditor will not be treated as final submissions.
[Circular no.: MCX/COMP/334/2026]
