This is in continuation to Exchange notice no.20180214-31 dated February 14, 2018 on the indicative penalty structure w.r.t various non-compliances.
The stock brokers are advised to note that following penalties/disciplinary action shall be applicable for non-compliances related to Margin Trading.
The details of violations and the corresponding penalties/disciplinary action(s) applicable against them are enclosed as Annexure A and Annexure B.
The penalty norms as mentioned in Annexure A shall be applicable for the inspections commenced on or after the date of this circular.
Further, the charges as per Annexure B shall be applicable as below:
Details of contravention
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Applicable from
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Non/delayed submission of half yearly networth certificate
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Forthcoming submission
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Failure to report daily MTR file
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w.e.f January 1, 2019
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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 stock brokers are advised to take note of the penalty norms and ensure adherence to the compliance requirements.
For and on behalf of BSE Ltd.
Gopalkrishnan Iyer Priya Pillai
Chief General Manager Senior Manager
Broker Supervision Broker Supervision
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