This has reference to Exchange notice nos. 20130819-2 dated August 19, 2013, 20140717-12 dated July 17, 2014, 20150515-27 dated May 15, 2015 and 20220817-44 dated August 17, 2022 wherein Exchange has provided clarifications on the Brokerage, Statutory & Regulatory Levies to be charged by the members.
Exchanges have been receiving complaints from various investors alleging that the members are levying brokerage and other charges more than what has been mutually agreed with the client and specified in the tariff sheet. Hence, members are advised to ensure that the client is not charged in excess of the agreed rates. Further, members shall ensure that statutory and regulatory levies recovered from client are only at actuals.
In order to bring more transparency to investors on the brokerage and other charges being levied by the members, Exchanges in consultation with SEBI have decided that the details of brokerage/charges to be levied for each order shall be prominently displayed to the investor on the “Order placement window/screen” on their Internet Based Trading (IBT) / Wireless Trading (WT) applications prior to placement of order.
Members are advised to take note of the above and implement the provisions of the circular by December 31, 2022.
In case of any clarifications, members may contact us on 022-2272 8435/5785 or email us at bse.inspection@bseindia.com.
For and on behalf of BSE Ltd.
Hiteshkumar Desai Josephine Baretto
General Manager Manager
Brokers’ Supervision Brokers’ Supervision
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