This has reference to SEBI circular nos. SEBI/HO/MIRSD/DOP/CIR/P/2020/28 and SEBI/HO/MIRSD/DOP/CIR/P/2020/88 dated February 25, 2020 and May 25, 2020 and Exchange notices 20200227-2 and 20200528-6 dated February 27, 2020 and May 28, 2020 respectively wherein the members were required to close all existing demat accounts tagged as ‘Client Margin/ Collateral’ and Client Margin Trading Securities demat accounts by August 31, 2020.

The Exchange in consultation with other Exchanges has formulated an indicative penalty structure for any non-compliance of the provisions of the aforementioned circulars. The penalty structures are enclosed as Annexure A. The structure is indicative in nature and the Relevant Authority of the Exchange may, on case to case basis and based on the gravity of the violation, deal with such non-compliances.

All Members are advised to take note of the same and comply.

In case of any queries/clarifications, you may contact us on the below nos.

For and on behalf of BSE Ltd.  

Hiteshkumar Desai                                          Kiran Sawant

Additional General Manager                          Assistant General Manager

Brokers’ Supervision                                       Brokers’ Supervision