This is with reference to BSE Circular no. 20230216- 4 dated February 16, 2023, on “Maintenance of a website by Stock Brokers and depository participants” wherein Trading Members were advised to maintain a designated website and display mandatory information to help the investors to keep themselves well informed about the various activities of the Members.
All Members dealing in clientele business are advised to mandatorily display the information as provided in “Annexure A & B” and update the information from time to time. FAQs pertaining to the same have been provided in “Annexure C”. In addition, the link for submission of such information through the member portal shall be informed to the members through a separate circular, in due course.
The provisions of this circular shall come into effect from August 16, 2023, and the URL of the website is to be reported to the Exchange within a week of the circular coming into effect i.e., by August 24, 2023.
Trading Members are also required to note that any modification in the URL shall be reported to Exchange within 3 days of such changes.
Failure to submit/upload the details within the prescribed timelines would be treated as non-compliance and attract penal/disciplinary action. The same will be communicated in due course
Trading Members are requested to take note of the same and ensure compliance.
Abhijit Pai Bina Khaneria
Dy.Gen. Manager Manager
Membership Compliance & Investor Services Membership Compliance
*****
Annexure A: Details of Mandatory display
1. Publishing of Investor Charter as per BSE circular no- 20211206-68 dated December 06, 2021 and 20220603-17 dated June 03, 2022 and display of Investor Grievance Escalation Matix as per BSE circular no- 20221109-42 dated November 09, 2022.
2. Basic details of the Member such as registration number, registered address of Head office and branches along with Contact Number and Email id.
3. Names, Mobile number, Email id etc. of all Key Managerial Personnels provided under sec. 2(51) of the Companies Act, 2013-
a. The Chief Executive Officer or the Managing Director or the Manager
b. The Company Secretary
c. The Whole-Time Director
d. The Chief Financial Officer
e. Such other officer as may be prescribed.
f. The Compliance Officer
g. Further, the Member can also identify and declare any one or more personnel as their KMP(s) from the given list as per their constitution: Directors, Proprietor, Partners, or any other competent personnel as identified by the member.
4. Step-by-step procedures for below-
a. Detailed write up on procedure for opening an account along with Flowchart and video (optional) if any with link.
b. Detailed write up on procedure for filing a complaint on a designated email id & finding out status of the complaint etc. along with Flowchart and video (optional) if any.
5. Details of Authorized Persons-
a. List of Active Authorised persons to be displayed.
b. List of Authorised persons cancelled by the Members on account of Disciplinary grounds.
Annexure B: - Formats of Mandatory display
i. Basic details of the SB such as registration number, registered address of Head Office and branches if any -
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Stock Broker Name
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Registration Number
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Registered Address
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Branch Address (if any)
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Contact Number
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Email id
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Escalation Matrix:
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Details of
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Contact Person
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Address
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Contact No.
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Email Id
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Customer care
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Head of Customer care
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Compliance Officer
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CEO
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ii. Names and contact details of all Key Managerial Personnel including the Compliance Officer-
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Sr. No.
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Name of the Individual
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Designation
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Mobile Number
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Email Id
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1
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2
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3
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iii. Step by step procedures for opening an account, filing a complaint on designated Email ID, and finding out the status of the complaint etc.
a. Detailed write up on the procedure for opening an account along with Flowchart and video if any (optional).
b. Detailed write up on procedure for filing a complaint on designated email id/ Toll-free number along with Flowchart and video if any (optional). Provisions are to be made for sharing Ticket Number once the complaint is lodged.
c. Detailed write up on procedure for finding out status of the complaint basis Ticket Number etc. along with Flowchart and video if any (optional).
iv Details of Authorized Persons
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List Of Authorised Persons (AP)
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Sr . N o
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Authorised Person's Name
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Authorised
Person Code (Exchange wise)
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Constitution
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Status
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Registered Address
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Terminal Details
(Exchange Wise)
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(Approved
/Cancelled)
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Add
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City
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State
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Pin code
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Terminal
Allotted
(Y/N)
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No. of
Terminals
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1
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2
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3
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5
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List of Authorised Persons (AP) Cancelled by Members on Account of Disciplinary Reasons
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Sr. No.
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Authorised Person's Name
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Status
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Authorised Person Cancellation Details
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Date
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Reason
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1
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2
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Annexure C: - FAQs
1. What are the various guidelines related to this circular?
SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/30 dated February 15, 2023 on Maintenance of a website by stock brokers and depository participants and SEBI/HO/MIRSD/DOP/P/CIR/2021/676 dated December 02, 2021 on Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites.
2. When will the circular come into effect?
The provisions of this circular shall come into effect from August 16, 2023.
3. What is the last date to comply with the circular and report to the Exchange?
The last date to comply with the circular and report to the Exchange is within a week of this circular coming into effect i.e., August 24, 2023.
4. Which Members are exception to this circular?
This circular is applicable to the Members dealing in clientele business (i.e., clients mapped to them). The same is not applicable to the Members dealing in Proprietary trading or Institutional Business with no client base.
5. Are there any additional guidelines on the URL to the website?
The URL provided should directly take to the main website of the Member. In case the Member is a subsidiary company, the website should be in the name of the Member and not the Parent company.
6. What is the frequency of the updation of details on the website?
The details displayed on the website should be updated at all points in time.
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