BSE: Brokers to submit half-yearly net worth certificates

BSE asked brokers to submit half-yearly net worth certificates as on September 2016 latest by December-end

Leading bourse Bombay Stock Exchange (BSE) on Monday asked brokers to submit half-yearly net worth certificates as on September 2016 latest by December-end.

"Trading members of the exchange are hereby requested to submit net worth certificate and computation of net worth as on September 30, 2016... Latest by December 31, 2016," the exchange said in a circular.

The submission has to be in electronic format.

"Submissions of net worth certificate and computation of net worth are required to be made online in electronic format through the BSE portal (BSE Electronic Filing System) by December 31, 2016," BSE said.

In case a member fails to submit the details within the prescribed timeline, the exchange will impose fine and can also deactivate the trading terminals.

A fine of Rs 100 per day will be slapped till the first month from the due date and Rs 200 each day from the second month after the due date.

Thereafter, Rs 300 per day will be imposed till the date of submission or date of discontinuation of margin trading facility, whichever is earlier.