BSE request Stock brokers to upload the data on clients funds

Apr 10, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Bombay Stock Exchange (BSE), on April 09, 2020, has requested Stock brokers to submit the data on clients funds lying on weekly basis. They shall submit the data as on last trading day of every week on or before the next 3 trading days. 

Accordingly, Stock brokers are requested to upload the data, along with necessary clarifications for the week ended April 09, 2020 by April 16, 2020 under the link. It is further clarified that in case of non-submission or late submission of data towards monitoring of client funds would attract penalties and disciplinary action as given below:

• Delay in submission within 10 calendar days from the    due date – Rs. 500/- per day;

• Delay in submission beyond 10 calendar days from the due date – Rs. 1000/- per day;

• Non-submission for consecutive 4 weeks – New client registration to be restricted;

• 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.

For further details or clarifications, email at [email protected] or [email protected]

[Notice No. 20200409-48]


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