The National Stock Exchange vide circular dated January 20,2021 has issued a Penalty structure for Late/Partial/Non-submission of authorization to Exchange to access the information/statements pertaining to all bank accounts maintained by members from Banks. The stock exchange has previously directed the trading members to submit authorization to exchange to access the information/statements pertaining to all bank accounts, maintained by members reported to the Exchange.
The Exchange has now formulated an indicative penalty structure for any non-compliance of this requirement. The penalty structure is indicative in nature and the Relevant Authority of the Exchange may, on case to case basis and based on the gravity of the violation, penalize such non-compliances.
