Rationalization of imposition of fines for false/incorrect reporting of margins or non-reporting of margins by Trading Member/Clearing Member in all segments

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..... All Recognized Stock Exchanges All Recognized Clearing Corporations Dear Sir / Madam, Sub: Rationalization of imposition of fines for false/incorrect reporting of margins or non-reporting of margins by Trading Member/Clearing Member in all segments 1. Attention is drawn to the following circulars issued by SEBI with respect to Mechanism for regular moni .....

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..... amework for imposition of fine on the Trading Member/ Clearing Member for incorrect/false reporting and non-reporting of margin collected from the clients. b. Considering the principle of proportionality , the fine shall be charged to the member based on the materiality of non-compliance done by the member which may include factors such as number of instances, repeated violations, etc. T .....

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..... ce of their members along with illustration as required and also disseminate the same on their websites. b. Make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above directions in co-ordination with one another to achieve uniformity in approach. c. Communicate to SEBI, the status of the implementation of the provisions of this c .....

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