The Bombay Stock Exchange (BSE) on November 21, 2023, issued a notification regarding the Revised Penalty Structure for Unauthorized trades executed in the client’s account
This is in partial modification to Exchange Notice No. 20180214-31 dated February 14, 2018, and 20210324-45 dated March 24, 2021, specifying the penalty norms for unauthorized trades executed by the members in the account of the client
The following has been stated namely: -
• This has a reference to the SEBI circular dated July 31, 2023, where a new Online Dispute Redressal has been introduced by SEBI wherein the existing mechanism of complaint redressal through IGRC has been discontinued and a Conciliation process through Conciliator has been introduced w.e.f. August 16, 2023.
• It states that it has now reviewed the penalty norms and revised the same as per the Table
• The revised penalty structure shall be applicable for all the cases placed before Conciliator/s or Arbitrator/s from the date of issue of this notice.
• The Trading Members are advised to take note of the revised penalty norms.
Kindly refer to the document to view the Table
[Notice No. 20231121-12]
