As per Regulation 18A of SEBI (Stockbroker) Regulation, 1992, all the Trading Members of the Exchange are required to appoint a compliance officer who shall be responsible for monitoring the compliance relating to the Act, rules and regulations, notifications, guidelines, instructions, etc., issued by SEBI or Central Government or Exchanges for redressal of investors’ grievances.
In order to have a robust compliance system, Trading Members should have an effective compliance culture and a strong compliance risk management programme. The Compliance Officer play an important role in facilitating compliance by promoting strong regulatory practices that ensure risk management, investor protection and market integrity. Hence, the compliance officer should be selected through a suitable process with an appropriate ‘fit and proper’ evaluation/selection criteria to manage the compliance risk effectively.
In this regard, the guidelines on Compliance Officers w.r.t the eligibility of Compliance Officers, tenure and continued suitability on an ongoing basis etc. are being issued. The guidelines are annexed as Annexure A and the same shall be effective from December 01, 2022.
Members are advised to take note of the same and comply with these guidelines, in letter and spirit, on a continuous basis. For any support, please email at membership.ops@bseindia.com
Johnson Chiriyath Abhijit Pai
Addl. Gen. Manager Dy. Gen. Manager
Membership Operations Membership Compliance
Annexure - A |