By Admin 
Sebi imposes fin on bse: The Securities Exchange Board of India i.e. SEBI has imposed a fine of Rs 25 lakh on it while running a stick on the BSE. The market regulator has found flaws in the exchange disclosure system and the process of compliance during its investigation. SEBI has taken such a tough step after inspections conducted between February 2021 and September 2022.
During his investigation, SEBI also came to know that the BSE did not take any action against the brokers who used to change the client code often. Along with this, the exchange did not fully review the trades made from error accounts, with permission to change the code of unarmed institutional clients without adequate investigation.
Sebi’s stick
In his order of forty -five pages, SEBI stated that the systemic structure of BSE provided access to the customers and internal listing compliance monitoring (LCM) team to the corporate announcements publicly before being released on the website, which violated the regulation.
The market regulator also saw that there were not enough safety measures in the process of data spread, which could ensure that all shareholders get information together and equally. This is extremely important to maintain the integrity of the market and prevent unfair information benefits.
BSE argument
Here, the BSE said in its clarification that the violation of it was technically, in such a situation, the investors have neither suffered any kind of damage nor any kind of benefit to the exchange. However, this cleanliness of BSE did not agree with SEBI and said that BSE’s move was not in accordance with the market infrastructure institution and first level regulator.
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