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| NOTICES |
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| Notice No. |
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20240528-25 |
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Notice Date |
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28 May 2024 |
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| Category |
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Compliance |
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Segment |
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General |
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| Subject |
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Penalty structure for non-compliance with oversight of Authorised Persons by the trading members. |
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| Content |
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The Exchange has formulated a penalty structure for non-compliance with oversight of Authorised Persons by the trading members. The same is described below, which shall be applicable with immediate effect.
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Sr.
No.
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Particulars
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Penalty/disciplinary action
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Penalty/Disciplinary Action in case of Repeat Violation
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1
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Member not having appropriate systems in place to monitor, review trading terminals mapped to its branches/AP
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Rs. 1,000/- per terminal + Direction to place appropriate systems to monitor, review trading terminals mapped to its branches/AP
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2nd time - 50% escalation
3rd time - 100% escalation
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2
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Delay in reporting of AP inspection to the Exchange
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Penalty of Rs. 10,000/- per day after the due date.
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Repeat violations: Escalation of 50%.
Subsequent violations will be placed before the relevant authority for disciplinary actions.
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3
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Incorrect submission of information to the Exchange regarding AP inspections
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Penalty of Rs. 25,000/- per day after the due date.
Additional disciplinary action shall be taken in case of submission of materially incorrect information
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4
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Not conducting of AP Inspections in accordance with the prescribed framework
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Penalty of Rs. 2 lakh for each year.
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5
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Non reporting/partial reporting of UCC details mapped to the APs
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Penalty of Rs. 2 lakh.
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Note : It may be noted that in all the above cases, the relevant authority on a case-to-case basis and based on the gravity of non-compliance may decide on additional disciplinary actions.
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Trading Members are advised to take note of the above.
In case of any clarifications, members may contact us on details given as under:
For and on behalf of BSE Ltd.
Hiteshkumar Desai Richa Ghosh
General Manager Asst. Gen. Manager
Inspection Inspection |
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