 "BSE asks brokers to furnish details of associates by Mar 15")
In a circular, the exchange has directed trading members to furnish the details of their associates in BEFS (BSE Electronic Filing system) under the heading 'Capturing Member Details'.
Further, they have been asked to provide information in the BEFS by March 15, and continuously update the same thereafter.
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The move follows market regulator Sebi coming out with listing guidelines for stock exchanges in January.
Under listing norms, depositories are required to monitor the shareholding limit of trading members or their associates and agents, based on their demat balance, on a daily basis.
To facilitate such monitoring, the stock exchange is required to share the list of all trading members or their associates and agents with the depositories.
In order to comply with the requirement, 'Capturing Member Details' page on BEFS (BSE Electronic Filing System) has been suitably modified for trading members to furnish the details of their associates. The BEFS page was made available to the members with effect from March 5.
As per Sebi norms, the shareholding threshold of 2%, 5% or 15% (for different classes of investors) as the case may be, will be monitored through depository mechanism.
The depositories would have to generate an alert when such holding exceeds 2% and monitor the same under intimation to Sebi.
The stock exchanges, both listed and where the securities are listed, and depositories will have to ensure that such mechanism be in place latest by March 31, 2016, Sebi had said.