Fy2025-26 - Stock Market Circularshttps://rhnvrm.github.io/stock-market-circulars/tags/fy2025-26/Regulatory circulars from NSE, BSE, and SEBI with AI-powered summariesHugo -- gohugo.ioen-usFri, 17 Apr 2026 00:00:00 +0000Risk Based Supervision (RBS) - FY 2025-26 Data Submission by May 31, 2026https://rhnvrm.github.io/stock-market-circulars/circulars/bse/2026/bse-2026-04-17-eb5717343144c7c6-risk-based-supervision-rbs-submission-of-information-for-the-period-april-01-202/Fri, 17 Apr 2026 12:02:28 +0000https://rhnvrm.github.io/stock-market-circulars/circulars/bse/2026/bse-2026-04-17-eb5717343144c7c6-risk-based-supervision-rbs-submission-of-information-for-the-period-april-01-202/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.bsecompliancehighhighhigheb5717343144c7c6https://www.bseindia.com/downloads/UploadDocs/Notices/20260417-25/20260417-25.pdfrisk-based-supervisionrbscompliancetrading-membersbefssebifinancial-penaltyfy2025-26Summary

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
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