Description
BSE announces the tentative time schedule for publication of securities eligible under GSM framework for the next 4 quarters from December 2025 to September 2026.
Summary
BSE has issued an update to the Graded Surveillance Measure (GSM) framework, providing the tentative publication schedule for securities eligible under GSM for the next four quarters. The circular references previous GSM notices dating back to 2017 and establishes specific dates when the exchange will publish lists of securities subject to surveillance measures.
Key Points
- Publication schedule established for next 4 quarters (December 2025 through September 2026)
- GSM framework operates in conjunction with all other prevailing surveillance measures
- If publication date falls on trading holiday, circular will be published on following working day
- References multiple previous notices establishing the GSM framework since 2017
Regulatory Changes
No new regulatory changes introduced. This is a schedule update for existing GSM framework.
Compliance Requirements
No specific compliance actions required. Market participants should note the publication schedule for awareness.
Important Dates
- March 06, 2026: Publication for Quarter ended December 2025
- June 12, 2026: Publication for Quarter ended March 2026
- September 04, 2026: Publication for Quarter ended June 2026
- December 04, 2026: Publication for Quarter ended September 2026
Impact Assessment
Minimal immediate impact. This is an informational circular establishing advance notice of when GSM-eligible securities will be published. Market participants can plan ahead for quarterly surveillance measure announcements. No changes to existing surveillance framework or compliance requirements.
Impact Justification
Procedural notice providing advance schedule for GSM publication dates with no immediate compliance requirements or market impact