National Stock Exchange of India (NSE) on 22nd May, 2023 issued circular regarding Enhanced Supervision of Stock Brokers/Depository Participants. Members are required to identify their Key Management Personnel (KMP) and update their PAN details on the Exchange platform. Members are required to note that:
- Members shall refer to the definition provided under Section 2(51) of the Companies Act, 2013, in order to ascertain Key Management Personnel. The Member can also identify and declare any one or more personnel as their KMP(s) from the given list as per their constitution.
- Details are required to be updated against the name of the personnel identified as KMP in ENIT portal (https://enit.nseindia.com/MemberPortal/). Further details are provided in Annexure A.
- Members who are yet to submit the details or have changes to be updated are required to comply with the aforementioned requirement latest by June 30, 2023.
- Failure to submit/upload the details attract a levy of late submission charges of Rs. 10,000/- per KMP.