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Notices
Notice No20180214-31Notice Date14 Feb 2018
CategoryComplianceSegmentGeneral
SubjectRevised penalty structure
Content
Further to Exchange notice no. 20171109-28 dated November 09, 2017 regarding Revised penalty structure, the Exchange has revised penalty norms, based on representations from stock brokers for review of the indicative penalty w.r.t. unauthorised trading.
 
Further, Exchange has amended the indicative penalty structure with respect to the following:
 
·      Penalty of Rs. 5000, per annum/warning for, non-submission/incorrect submission of PAN of Key Managerial Personnel (KMPs)/Directors/dealers etc. within the time specified.
 
·      Providing notice of 2 weeks before disabling the trading terminal for Non submission of data towards upload of client funds & security balances, for, consecutive two months
 
·      Penalty norms for non-segregation of clients’ funds shall also be applicable for non-segregation of client securities
 
·      Clarity that advice for NEFT/RTGS not implemented, will be applicable for settling client accounts
 
The details of violations and the revised penalties/disciplinary action(s) applicable against the violations are enclosed as Annexure A and Annexure B.
 
It may be noted that the actions including penalties for violations are only indicative in nature containing commonly observed violations and the action in respect of uncommon / repetitive violations may be dealt with on a case to case basis depending on the seriousness and gravity of such violations. Further, the Exchange may take more serious action / impose more stringent penalty / enhance the penalty as deemed fit.
 
The members are advised to take note of the revised penalty norms and ensure adherence to the compliance requirements.
 
In case of any clarification the Stock brokers may contact the following officials. 
 
Name of officials
Contact No
Ajinkya Nikam
022-2272 8853
Krunal Rahangadale
022-2272 5632
Gayak Jalan
022-2272 8724
Rohini Rasputra
022-2272 5068
 
 For and On behalf of BSE Ltd.  
 
 
 
Gopalkrishnan Iyer                                                              Hitasha Gurbani
Sr. General Manager                                                           Asst. Gen. Manager 
(Brokers’ Supervision)                                                        (Brokers’ Supervision)
Attachments
Annexure -A (financial, procedural violations).doc
Annexure -B (Enhanced supervision penalties).docx