Central Depository Systems (Pvt) Limited (CDS), the wholly-owned subsidiary of the Colombo Stock Exchange, has announced a significant extension to the deadline for suspending accounts that lack mandatory key information. In a circular issued on July 24, 2026, the depository revealed that the final phase of account suspensions, which was originally set to take effect on July 31, 2026, has now been postponed to September 25, 2026.

The extension is part of a broader initiative aimed at maintaining accurate and complete records to enhance the integrity of the depository system. According to the CDS, these updates are vital for facilitating effective communication with clients and meeting the operational and regulatory objectives of the market.

The decision to move the deadline follows extensive consultations between the CDS and market intermediaries. Discussions held during a Broker CEO Meeting on July 15, 2026, saw Depository Participants reiterate their commitment to updating client records but requesting additional time to complete the process. Prior to this, the CDS had issued multiple reminders to stockbroker firms throughout June and July to expedite the regularization of outstanding records.

To facilitate these updates, the CDS has provided a front-end facility to all Depository Participants. Investors whose accounts are missing key information are required to submit a duly completed "CDS Form 28" through their respective stockbrokers to avoid the upcoming suspension.

Nadeera Athukorale, Head of Central Depository Systems, emphasized that this extension serves as a "final opportunity" for account holders and brokers to ensure compliance. The CDS has urged Depository Participants to treat the matter with the "highest priority" and to intensify engagement with affected clients over the coming weeks.

The depository warned that the September 25 deadline is firm. Once this extended period expires, the CDS will proceed with the implementation of the final suspension process for any accounts that remain non-compliant with the mandatory information requirements.