The National Commodity & Derivatives Exchange Limited (NCDEX) on August 25, 2026, has advised Trading Members to take necessary disciplinary action against Authorised Persons (APs) for non-compliances identified during AP inspections, in accordance with the guidelines prescribed in its earlier circular dated October 20, 2025.
The following has been stated:
Members must take disciplinary action within 2 months from the end of the relevant quarter and submit the Action Taken Report (ATR), along with the status of closure of observations, within 3 months from the end of the quarter.
For example, for the April–June quarter, disciplinary action is to be completed by August 31 and ATR submitted by September 30. However, where termination is prescribed for a particular non-compliance, action must be taken within 7 days from receipt of the AP inspection report or identification of the non-compliance.
The revised timelines will apply to AP inspection reports for the July–September 2026 quarter onwards, with operational guidelines for ATR submission to be communicated separately.
[Circular No.: NCDEX/MEMBER INSPECTION- 024/2026]
