Description
BSE updates Enhanced Surveillance Measure framework with new securities additions and stage movements effective August 13, 2025.
Summary
BSE has updated the Enhanced Surveillance Measure (ESM) framework effective August 13, 2025. Six new securities have been added to ESM, nine securities will move to higher ESM stages, and no securities are moving out of the framework or to lower stages.
Key Points
- 6 new securities shortlisted for ESM framework
- 9 securities moving to higher ESM stages
- No securities moving out of ESM framework
- No securities moving to lower ESM stages
- Changes effective from August 13, 2025
- Consolidated list includes securities across ESM Stage I and II
Regulatory Changes
The Enhanced Surveillance Measure framework continues to monitor securities with heightened scrutiny. Securities under ESM face additional trading restrictions and monitoring requirements based on their assigned stage.
Compliance Requirements
- Trading members must comply with ESM framework requirements for affected securities
- Enhanced monitoring and reporting obligations for securities under ESM
- Stage-specific restrictions apply based on ESM classification
Important Dates
- Effective Date: August 13, 2025 - All ESM changes come into effect
Impact Assessment
The addition of new securities to ESM and movement of existing securities to higher stages indicates continued regulatory focus on market surveillance. This affects trading liquidity and investor access to these securities, with potential impact on price discovery and market participation for the affected companies.
Impact Justification
Affects trading conditions for multiple securities with enhanced surveillance measures