Description
BSE announces movement of 17 securities into different stages of Graded Surveillance Measure framework for enhanced monitoring.
Summary
BSE has announced the movement of 17 securities into different stages of the Graded Surveillance Measure (GSM) framework. 11 securities are moving to GSM Stage I and 6 securities are moving to GSM Stage II, effective from the specified date.
Key Points
- 11 securities moving to GSM Stage I for enhanced monitoring
- 6 securities moving to GSM Stage II with stricter surveillance measures
- GSM framework provides graded surveillance based on risk assessment
- Securities under GSM face additional trading restrictions and monitoring
- Some securities may move to lower GSM stages if included in ESM or IBC frameworks
Regulatory Changes
- Enhanced surveillance measures applicable to listed securities
- Graded approach to risk management based on security-specific factors
- Integration with ESM (Enhanced Surveillance Measure) and IBC (Insolvency and Bankruptcy Code) frameworks
Compliance Requirements
- Listed companies must comply with additional disclosure requirements under GSM
- Enhanced reporting obligations for companies in GSM stages
- Investors should be aware of additional trading restrictions on GSM securities
- Brokers must ensure proper risk management for GSM securities
Important Dates
- Effective Date: August 11, 2025 (as per circular date)
- Securities will be subject to respective GSM stage requirements from the effective date
Impact Assessment
- Trading volumes may be affected due to additional surveillance measures
- Increased compliance burden for affected companies
- Enhanced investor protection through improved monitoring
- Potential impact on liquidity for securities in higher GSM stages
- Market participants need to adjust trading strategies for GSM securities
Impact Justification
Affects trading conditions for 17 securities with enhanced surveillance measures that may impact liquidity and trading patterns