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      Question

      If a transaction is reportable in both India and an

      overseas jurisdiction, what must market participants do if the foreign country has a tighter deadline?
      A Ignore the foreign deadline and follow the Indian schedule Correct Answer Incorrect Answer
      B Use a temporary domestic interim code and disregard the global UTI framework Correct Answer Incorrect Answer
      C Make reasonable efforts to obtain and report that global UTI within the required tighter timeframe Correct Answer Incorrect Answer
      D Apply to GLEIF for an emergency 30-day reporting extension Correct Answer Incorrect Answer
      E Report exclusively to the foreign platform and cancel the CCIL-TR log Correct Answer Incorrect Answer

      Solution

      Regulations demand that when a transaction spans dual jurisdictions and the foreign country enforces a tighter reporting deadline, market participants must make reasonable efforts to acquire and report that global UTI within that shorter timeframe.

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