Dated: 3rd May 2006
Members are hereby informed that the Exchange has received a letter from SEBI Ref. No. MIRSD/AK/65483/2006 Dated 25th April, 2006 on the above subject. The contents of the letter are given here under for information of the members.
Deputy General Manager Securities and Exchange Market Intermediaries Regulation and Board of India
April 25 2006
The Executive Director/ Managing Director
All stock Exchange
Sub: Submission of Turnover Details in respect of Brokers for the Financial Year 2005-06
In terms of Circular No. SMD/POLICY/CIR–07/2002 dated March 28, 2002 and Circular No. SMD/POLICY/Cir-25/19058/2002 dated September 30, 2002 read with Regulation 10, Schedule III of the SEBI (Brokers and Sub–brokers) Regulations, 1992, you are required to submit the turnover details in respect of brokers in the prescribed manner. You are, therefore, advised to submit the turnover details for the financial year 2005-06 in respect of those brokers of the exchange who are liable to pay turnover based registration fees under the Regulations for the financial year 2006-07. Such turnover details must reach SEBI at the latest by July 31, 2006 in Annexure “C” of the circular No. SMD/POLICY/Cir-25/19058/2002 dated September 30, 2002.
As required under the said Circular, you are required to obtain the break up of the turnover from brokers in the Annexure “A”. Please advise the brokers to submit the Annexure “A” to the exchange well in advance so that you can submit the Annexure “C” to SEBI by 31st July, 2006, and further that in case a broker does not submit the Annexure “A” by the specified time to the Exchange, it would be presumed that his turnover does not include any of the transactions eligible for concessions and the Exchange would submit total turnover in Annexure “C” as per its records to SEBI. You are also advised to submit Annexure “C” to SEBI by 31st July, 2006 based on the Annexure “A” submitted by the broker and/or on Exchange records, as the case may be.
Please also advise the brokers to pay the registration fees payable for the financial year 2006-07 to SEBI on or before 1st October 2006
In view of the above, members are requested to submit their turnover details in Annexure “A” for the financial year 2005-06 to the Exchange by 30th June 2006 for onward submission to SEBI and further requested to pay the registration fees payable for the financial year 2006-07 to SEBI on or before 1st October, 2006.