Thursday March 15 2018

News Source: Global Exchanges

Focus: Trading Rules

Type: General




The Bombay Stock Exchange (BSE)  announced that it has updated the Guidance on its Inspection Manual.

The purpose of the Manual is to ensure that:

  • Proper books of accounts, records and documents have been maintained by the Members in the manner specified in Rule 15 of the Securities Contracts (Regulation) Rules, 1957 and Regulation 17 (1) of the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulation, 1992.
  • The Member has complied with the Rules, Byelaws and Regulations of BSE and with the provisions of the Securities Contracts (Regulation) Act, 1956, the Securities Contracts (Regulation) Rules, 1957, the SEBI Act, 1992 and the Rules and Regulations made there under and SEBI (Stock-Brokers and Sub-Brokers) Rules, 1992.
  • The Members have complied with various notices, circulars, press releases, etc issued by the Ministry of Finance, SEBI and BSE.
  • The conduct of the Members is in the overall interest of the capital market and the Members are fair in dealing with their clients.

BSE has set up a department called Department of Surveillance & Supervision (DOSS), which has been entrusted with the responsibility to carry out inspection of the books of accounts, records and other documents maintained by its Members including their branches.

Moreover, to ensure compliance by the Members with the recommendations made by BSE, the Members are required to submit a compliance certificate either from their Compliance Officer or from a Chartered Accountant, within 30 days from the receipt of the final action letter from BSE.

An inspection manual is in place for Equities and Derivatives.

For additional information please click the link above.