Description

BSE announces expulsion of Abbott Wealth Management Limited as a corporate trading member with immediate effect, following MCX's expulsion decision.

Summary

BSE has expelled Abbott Wealth Management Limited (Membership No. 6820), a corporate trading member, with immediate effect on December 12, 2025. This action follows the expulsion of the same entity by MCX effective December 10, 2025, as per MCX Circular No. MCX/INSP/635/2025 dated December 11, 2025. The expulsion is in compliance with Circular No. F. No. 1/26/SE/91 dated August 12, 1991, issued by the Ministry of Finance (Department of Economic Affairs), Government of India.

Key Points

  • Abbott Wealth Management Limited (Mem No. 6820) expelled as BSE corporate trading member
  • Expulsion follows MCX’s prior expulsion of the same entity
  • Action taken in compliance with Ministry of Finance circular from August 1991
  • No Authorised Persons or Remisiers are affiliated with the expelled trading member
  • Trading members and investors advised to take note

Regulatory Changes

No regulatory changes introduced. This circular implements existing regulatory framework under Ministry of Finance Circular No. F. No. 1/26/SE/91 dated August 12, 1991, which requires cross-exchange expulsion when a trading member is expelled by one exchange.

Compliance Requirements

  • Trading members must note the expulsion of Abbott Wealth Management Limited
  • Investors should be aware that Abbott Wealth Management Limited is no longer authorized to operate as a BSE trading member
  • No specific compliance actions required from other market participants

Important Dates

  • December 10, 2025: MCX expulsion of Abbott Wealth Management Limited effective date
  • December 11, 2025: MCX circular issued (MCX/INSP/635/2025)
  • December 12, 2025: BSE expulsion effective immediately (Notice No. 20251212-3)

Impact Assessment

The market impact is minimal as Abbott Wealth Management Limited had no affiliated Authorised Persons or Remisiers at the time of expulsion. The action is administrative in nature, ensuring regulatory compliance across exchanges. Trading members and investors should update their records but no operational disruption is expected. This demonstrates the exchange’s commitment to maintaining market integrity and implementing disciplinary measures across the exchange ecosystem.

Impact Justification

High severity due to expulsion action but low market impact as member has no affiliated Authorised Persons or Remisiers; affects single trading member only