The National Stock Exchange Clearing Limited vide its notification dated 23rd December 2020 has notified penalties which shall be levied in SLB scheme for below mentioned violations which shall be effective for transactions executed from 1st January 2021.
Self-trades are prohibited in the NCL SLB scheme and participants who does the trading shall be lived with Penalty at the rate of Rs.15,000/- per trade.
Participants are required to upload client details on UCI online portal by the date of execution of transactions however for non-uploading of client details before end of trade date shall attract a penalty of Rs.10,000/- per instance.
Penalty of 0.05% per day of value of security valued at close price of trade date in capital market segment shall be levied for each instance of shortages by the Participant. This penalty shall be applicable for all securities pay-in obligation including both legs of SLB transactions.
Funds pay-in arises due to shortage in pay-in of lending fee, rollover fee or lending price, margin pay-in, closeout or valuation debit pay-in and In case of default, a penalty at the rate of 0.07% per day for each instance of overnight fund shortage shall be levied.
