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

..... nges All Recognized Clearing Corporations Dear Sir / Madam, Sub: 1. Attention is drawn to the following circulars issued by SEBI with respect to Mechanism for regular monitoring of and penalty for short-collection/ non-collection of margins from clients : a) Circular No. CIR/DNPD/7/2011 dated August 10, 2011; and b) Circular No. SEBI/HO/CDMRD/DRMP/CIR/P/2016/80 dated September 07, 2016 directed to .....

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..... on-compliance done by the member which may include factors such as number of instances, repeated violations, etc. The amount of fine to be charged upon the member may extend to 100% of such false/incorrectly/non reported amount of margin and/or suspension of trading for appropriate number of days. 4. In view of the aforesaid guidelines the following clauses of the circulars mentioned hereunder, sh .....

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..... implementation of the provisions of this circular in their Monthly Development Reports. 7. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 and Section 10 of Securities Contract (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the s .....

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