BSE asks brokers to submit digital signatures

BSE, Asia's oldest bourse, has asked trading members to submit digital signature of the designated officer by September 15, for risk-based supervision system.

The exchange introduced a new risk-based model for supervision of market entities, following regulator Sebi's directions.

Trading members have been submitting risk-based supervision (RBS) data since 2013-14. However, there have been instances of delayed or non-submission of data.

"RBS module will facilitate submission of RBS data for the half year ended September 2016 onwards, using digital signature. In order to facilitate the process, trading members are required to submit the digital signature of the Compliance Officer, which shall be used for authentication," BSE had said.

Now, in a clarification issued today, BSE said, "digital signature of the compliance officer as well as designated director, may be used for authentication." They need to ensure such submission to the exchange by September 15, 2016. BSE, in March, announced that brokers will have to submit risk-based supervision data for half year ending September 30, 2016 by November 15.

Besides, the exchange, in consultation with Sebi formulated the timetable for submission of RBS data and also the penalty provisions for delayed or non-submission of such provision.