Description
BSE requires all active trading members to submit Risk Based Supervision data for FY 2025-26 (April 01, 2025 – March 31, 2026) electronically through BEFS by May 31, 2026. Non-compliance attracts financial penalties and potential trading disablement.
Summary
BSE has issued a notice requiring all active trading members to submit Risk Based Supervision (RBS) data for FY 2025-26 (April 01, 2025 – March 31, 2026) by May 31, 2026. Submission must be made electronically through BEFS under the Risk Based Supervision menu. Non-submission or delayed submission attracts escalating financial penalties and potential disablement of trading facilities.
Key Points
- Deadline for RBS data submission: May 31, 2026
- Submission is mandatory for all active members who executed at least one trade between April 01, 2025 and March 31, 2026
- Submission must be made electronically through BEFS only; no physical copies required
- Data collated from members is shared with SEBI
- Certain data points will be sourced internally by exchanges and from other regulatory submissions (per Annexure_B), easing compliance burden
- Penalty framework applies as per exchange notice no. 20251010-20 dated October 10, 2025
Regulatory Changes
Pursuant to representations from the Brokers’ Industry Standards Forum, and in consultation with SEBI, certain information/details will now be sourced by exchanges internally and through other regulatory submissions, reducing the data points members need to submit directly.
Compliance Requirements
- All active BSE trading members must submit RBS data for FY 2025-26 via BEFS by May 31, 2026
- Details to be submitted are specified in Annexure_A
- Data points sourced internally by exchange are listed in Annexure_B
- Refer to Annexure_C (User Manual) for submission process guidance
- Contact: 022-69158540 / 022-45720640 / 022-45720440 | bse.inspection@bseindia.com
Important Dates
- Assessment Period: April 01, 2025 – March 31, 2026
- Submission Due Date: May 31, 2026
- Days 1–7 post due date: Tier-1 penalty applies
- Days 8–21 post due date: Tier-2 penalty applies; new client registration prohibited at day 21
- Day 21+: 7-day notice for trading disablement issued
- Day 28+: Member disabled across all segments until submission
Impact Assessment
Financial Penalties for Non-Compliance:
| Period | Non-QSB | QSB |
|---|---|---|
| Days 1–7 after due date | Rs. 1,500/day | Rs. 3,000/day |
| Days 8–21 after due date | Rs. 2,500/day | Rs. 5,000/day |
| Repeat instance | Above + 50% escalation | Above + 50% escalation |
- Non-submission beyond 21 days results in prohibition of new client registration and issuance of trading disablement notice
- Non-submission beyond 28 days results in disablement across all segments until submission
- Disablement notices are shared with all exchanges
- This circular affects all active BSE trading members; non-compliance risk is significant given SEBI oversight and cross-exchange disablement provisions
Impact Justification
Mandatory submission for all active trading members with significant financial penalties and risk of trading disablement for non-compliance; data shared directly with SEBI.