BSE, NSE tell brokers to Submit risk-based data by May 31

Leading stock exchanges BSE and NSE on Friday asked brokers to submit risk-based supervision data for the past fiscal by May 31 in order to avoid any penalty or disciplinary action. The exchanges introduced the new risk-based model for supervision of market entities following markets regulator Sebi’s directions. Trading members have been submitting risk-based supervision data since 2013-14. However, there have been instances of delayed or non-submission of data. Accordingly, the exchanges in consultation with Sebi have formulated a standard penalty structure for the non/delayed submission of RBS data, which will be applicable for the data for 2015-16 onwards. Earlier this month, the exchanges had extended the time for submission of risk-based supervision data by brokers for the past fiscal. Prior to that, brokers were required to submit the data by May 15. “The members are advised to submit the data by May 31, 2016, in order to avoid any penalty or disciplinary action,” BSE said in a circular on Friday. In a separate circular, NSE said “all members are advised to ensure the submission is made positively by the due date to avoid any penal charges/disciplinary action”.