The Bombay Stock Exchange (BSE) on January 05, 2024, issued a circular regarding the Most Important Terms and Conditions.
This has a reference to the SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/180 dated November 13, 2023 (Exchange Notice No. 20231115-1 dated November 15, 2023) on “Most Important Terms & Conditions (MITC)”
The following has been stated namely: -
• It states that the Most Important Terms and Conditions as finalized in accordance with point no. 4 of the SEBI above Circular is enclosed herewith as Annexure A.
• It states that with respect to new clients on board from April 01, 2024, onwards, the MITC shall be required to be acknowledged i.e. duly signed by the client.
• It is further requested that the MITC shall be informed by members to their existing clients by June 01, 2024, via email or any other suitable mechanism that can be preserved. In case communication gets bounced/undelivered, the same shall be communicated through alternate channels to such clients. Another suitable mechanism may include physical delivery/SMS/electronic instant messaging services after adhering to the safeguards prescribed under Exchange Notice No. 20220607-11 dated June 07, 2022, on the Issuance of Electronic Contract Notes (ECN) through SMS/electronic instant messaging services.
• The Members are advised to take note of the contents of the circular and comply.
[Notification No. 20240105-38]
