BSE gives more time to brokers for risk-based supervision info

Leading stock exchange BSE today extended the deadline for brokers to submit data with respect to risk-based supervision for the first half of the current fiscal, to October 31.
BSE had earlier asked its trading members to collate and submit the data for the period April 1-September 30, 2015 by October 16.
However, the exchange today said that the deadline has been further "extended to October 31" on request of its trading members.
The stock exchanges have in place a new risk-based model for supervision of market entities, following Sebi directions.
"The members may note that the submission is to be made only electronically through BSE Electronic Filing System (BEFS)," BSE said in a notice today.

"No physical copies are required to be submitted to the exchange," it added.

Sebi has decided to adopt this new supervision model, based on level of risks posed by a market entity, to help it better regulate the marketplace and strengthen its surveillance system.
Under the model, various market entities are divided broadly into four groups -- very low risk, low risk, medium risk and high risk -- and the quantum of surveillance and number of inspections would increase as per the risk level.
The move helps the surveillance system take care of most of the smaller offences, so that the investigation resources are utilised more effectively to tackle serious violations in the market place.

BSE said that the submission of risk-based supervision data is mandatory for all active members of the exchange.
Further, the bourse said the data collated from the members towards risk based supervision would be shared with the capital market regulator.
"In case of any non-submission by a member, appropriate disciplinary action may be initiated," it added.