This is further to Exchange circulars 20200930-66 dated September 30, 2020 on the weekly upload of the Client Level Holding Statement, 20200602-33 dated June 02, 2020, 20201217-54 dated December 17, 2020, 20210118-31 dated January 18, 2021 and 20210927-48 dated September 27, 2021, on the weekly upload of the Cash & Cash Equivalent Balances and Bank Account Balances data to the Exchange.
All Members are required to ensure correct submission of data towards Client Level Holding Statement, Cash & Cash Equivalent Balances, and Bank Account Balances to the Exchange. In this regard, the existing penalty structure for incorrect submission of data towards Client Level Holding Statement, Cash & Cash Equivalent Balances, and Bank Account Balances to Exchange has been reviewed and revised. The Disciplinary actions with respect to wrong or incorrect submissions of Client Level Holding Statement, Cash & Cash Equivalent Balances and Bank Account Balances are stipulated as under: -
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Existing Penalty/ Disciplinary Action
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Revised Penalty
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1. Penalty of Rs. 1 lakh in case of procedurally incorrect submission
2. Disablement of trading terminals for 1 day in case of material incorrect submissions.
Further, if instances of incorrect submissions are less than 2 % with value less than Rs. 5 Lakhs, a warning may be issued.
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1st time - Rs.1 Lakh
2nd time - 50% escalation
3rd time - 100% escalation
In addition to penalty, the relevant authority may decide to disable /suspend the trading terminals of the member in all segments for 1 day in case of 3rd time repeat violation of incorrect reporting/submission on case-to-case basis and based on the gravity of the violation.
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Disciplinary actions shall be applicable w.e.f. 1st March, 2023.
All Members are advised to ensure correct submission to avoid any disciplinary actions.
For and on behalf of BSE Ltd.
Sandeep Sharma Kalpesh Ganger
Asst. General Manager Manager
Broker's Supervision Broker's Supervision
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