Compliance Calendar:
With the maturing of Capital Markets, the responsibilities on the trading members have increased manifold. The responsibilities cast on the member brokers to comply with the various requirements are expected to only increase with time. Non compliance may lead to regulatory action on the members, which reflects poorly both on the trading members and the Capital Markets as a whole
For the benefit of the members to keep track of the compliance requirements, the Forum has tabulated the requirements in the form of the compliance calendar, which also serves as a checklist of the trading members of BSE. The compliance activities are tabulated as per their frequency.
We hope this calendar shall be of immense help to the members and increase the general level of compliance amongst the BSE brokers
BSE Brokers Forum Group Insurance Policy:
SEBI has vide its circular mandated that all active stock brokers have insurance cover for the broking operations. Over the years, BSE has been taking a consolidated Insurance policy on behalf of its members. However, in 2007, BSE has discontinued this practice.
To ensure that the members of BSE continue to enjoy the economies of scale as a group, BSE Brokers Forum ash been since 2007 negotiating policies on behalf of the members of BSE with the Insurance companies.
In 2009, the BSE Brokers forum has tied up with HDFC ERGO General Insurance Co for a group policy in the name and style of BSE Brokers Forum Group Policy. All the member of BSE Brokers forum is entitled to be covered under the said policy. As on 11 November 2009, 450 member of the Forum have opted to be covered under the said policy
The policy covers Infidelity of employees, Computer Crime indemnity, Legal liability, Counterfeit securities, Loss of securities and/or cash. The policy is availed for the basic amount of Rs.5 lakh only. Members desirous of having a higher sum assured or other coverage’s are advised to take a separate policy.
Disputes and Arbitration:
Over a period of time, the regulators have ensured investors’ protection in terms of disputes between trading members and the investors. A large Investor Protection Fund has been created by BSE for the same objective, where each investor is entitled to a protection of up to Rs.10 lakh in case of defaults by the Trading Members
However, the same protection is not available to the trading members in case where clients’ default on the payments due to them. Some of the defaults are genuine due to losses suffered by the investors. However, some unscrupulous elements in the guise of the investors dupe multiple trading members by registering at various places.
One of the powerful tools of prevention is information. In such cases if the trading member of BSE have any arbitration awards in their favour, they shall, be entitled to upload the same on the BSE Brokers Forum website. They are expected to upload the copy of the award, a copy of the KYC agreement and their remarks.
We hope that the sharing of the these information among the trading members will go a long way in weeding out such unscrupulous elements from the Capital Markets and lead to a freely and a vibrant and safe markets for all the participants
Chat Room:
Welcome! Write if you have a question or an opinion or a comment about any issues relating to the Brokers business.
Here members can have real time online chat with other members. Also, the forum will always be online for your guidance.
Please note that you need to be a member of the BSE Brokers' Forum in order to use the chat room.
You can also have a free live Guest chat that will be held on a periodic basis for the benefit of the members to resolve inquisitive queries.
The views expressed here are those of the respective users. BSE Brokers' Forum neither endorses nor assumes responsibility for the contents of any message or its consequential implications
Employer's Corner:
Want to be a part of the Capital Markets? All the members of BSE desirous of employing candidate in their organisation will be listing their human manpower requirement in this section.
For the trading members, this is a one stop shop where the human resource requirements of the member can be listed at NO COST to the members
Seminars and Workshops:
BSE Brokers' Forum regularly conducts seminars, conferences, workshops and specialized programmes on related subjects for the industry.
Members looking for customized workshops can co-ordinate with BSE Brokers' Forum officer to get their workshops organized.
Forthcoming Events:
A snapshot of events relating to Capital Markets. This portal contains general information as well as specific information about current and forthcoming events of Capital Market of India.
Downloads:
Useful tools and resources and utilities for members use.o Forum FAQs
o Forum representations/ correspondence
o Utilities
o Model documents/ templates (PMLA/ Insider Trading/ RMS)
o Operations Manual
