The Bombay Stock Exchange vide its notice dated 9th April 2020 has requested Stockbrokers to submit the data on clients’ funds lying with them on weekly basis based on the last trading day of every week on or before the next three trading days.
The Stockbrokers shall upload the data along with necessary clarification for the week ended April 09, 2020, by April 16, 2020, using the following link:
(URL: https://befs.bseindia.com/) BEFS>>Enhanced Supervision>>Details of Client Assets)
Further, it is clarified that in case of non/late submission of data would attract penalties and disciplinary action as given below:
- In case of Delay in submission within 10 calendar days from the due date penalty of Rs. 500/- per day and in case of delay beyond 10 calendar days from the due date – Rs. 1000/- per day would be imposed as penalty
- In case of Non-submission for consecutive 4 weeks and if it is a New client registration will be restricted and Non-submission for consecutive 8 weeks – 2 weeks’ notice shall be given to the Member subsequent to which the Member shall be disabled in all segments by the Exchange.
Click here to read the Notice.
