Description

BSE requires all Trading Members to submit their Networth Certificate and Computation of Networth as on March 31, 2026 by May 31, 2026. Members registered with both BSE and NSE must submit to NSE only; exclusive BSE members continue submitting to BSE.

Summary

BSE has issued a notice requiring all Trading Members (including those with Margin Trading Facility approval) to submit their Networth Certificate and Computation of Networth as on March 31, 2026 by May 31, 2026. Members registered with both BSE and NSE are required to submit to NSE only, while exclusive BSE members continue submitting to BSE as per the existing process.

Key Points

  • All BSE Trading Members must maintain minimum Networth at all points of time as a continuing membership norm
  • Networth Certificate and Computation must be submitted as on March 31, 2026 in prescribed formats
  • Members dually registered with NSE must submit their Networth certificate to NSE only (per Exchange notice 20250929-81 dated September 29, 2026)
  • Exclusive BSE members must continue making submissions directly to BSE
  • Members must adhere to the applicable Networth (higher of base Networth or variable Networth) per SEBI gazette notification
  • Four annexures are provided covering Networth requirements, certificate formats for corporates/firms/individuals, certificate format for banks, and SEBI-prescribed computation format

Regulatory Changes

No new regulatory changes introduced. This notice reaffirms existing obligations under:

  • SEBI gazette notification No. SEBI/LAD-NRO/GN/2022/73 dated February 23, 2022 (Networth standards)
  • Exchange notice no. 03 dated January 23, 2024 (clarification on Networth ascertainment)
  • Exchange notice no. 20250929-81 dated September 29, 2026 (NSE dual-member submission routing)

Compliance Requirements

  • Submit Networth Certificate in the prescribed format applicable to member type (corporate, firm, individual, or bank)
  • Submit Computation of Networth as per SEBI-prescribed format (Annexure 4)
  • Comply with the applicable Networth threshold — the higher of base Networth or variable Networth as per SEBI norms
  • Dually registered BSE-NSE members: submit to NSE only
  • Exclusive BSE members: submit to BSE via existing process
  • In case of Networth shortfall, submit a revised Networth certificate alongside the original

Important Dates

  • March 31, 2026: Reference date for Networth computation
  • May 31, 2026: Deadline for submission of Networth Certificate and Computation to the Exchange

Impact Assessment

This circular affects BSE Trading Members who are required to comply with half-yearly Networth reporting obligations. Non-submission or shortfall without a revised certificate by May 31, 2026 will trigger disciplinary actions as outlined in Exchange Notice 20260417-45 dated April 17, 2026. The routing clarification (dual NSE-BSE members submit to NSE only) reduces duplicate compliance burden for those members. No broader market or stock-level impact is anticipated.

Impact Justification

Routine half-yearly compliance requirement for BSE Trading Members with a defined deadline and disciplinary consequences for non-submission, but limited to membership/compliance operations with no broader market impact.