Description

Updates to Long Term ASM framework with securities being added, moved between stages, and removed from surveillance effective August 29, 2025.

Summary

BSE has updated the Long Term Additional Surveillance Measure (LT-ASM) framework effective August 29, 2025. The circular includes securities being newly added to LT-ASM, securities moving between ASM stages, securities being removed from the framework, and a consolidated list of all securities currently under LT-ASM surveillance.

Key Points

  • 2 securities newly shortlisted for Long Term ASM Framework: Novateor Research Laboratories Ltd and Rajnish Wellness Ltd
  • 1 security (Vantage Knowledge Academy Ltd) moved to higher ASM Stage II
  • 4 securities removed from LT-ASM Framework due to inclusion in other surveillance frameworks
  • No securities moved to lower ASM stages or direct Stage IV
  • Consolidated list shows securities across different ASM stages (Stage I primarily shown)

Regulatory Changes

  • Implementation of Long Term ASM Framework updates with specific stage assignments
  • Securities moving between surveillance frameworks (LT-ASM to ESM, GSM, Trade for Trade, IBC)
  • Maintenance of consolidated surveillance list with stage classifications

Compliance Requirements

  • Trading members must adhere to applicable surveillance measures for listed securities
  • Securities under LT-ASM subject to enhanced monitoring and trading restrictions
  • Compliance with stage-specific ASM requirements for affected securities

Important Dates

  • Effective Date: August 29, 2025 - All LT-ASM framework changes become applicable

Impact Assessment

  • Trading Impact: Securities under LT-ASM face enhanced surveillance and potential trading restrictions
  • Market Participants: Investors and traders must consider surveillance status when trading affected securities
  • Compliance Impact: Brokers and trading members need to ensure adherence to surveillance measure requirements
  • Investor Protection: Framework aims to protect investors by monitoring securities with specific risk characteristics

Impact Justification

Affects trading parameters for multiple securities under surveillance framework