BSE has issued a notice requiring all active Trading Members to renew their Broker Indemnity Insurance Policy with a minimum sum insured of Rs. 5 lakhs. Members must submit the renewed policy document and details through the BEFS (BSE Electronic Filing System) portal within 30 calendar days from the date of expiry of their current valid indemnity insurance policy.

Key Points

• All active Trading Members must maintain an Indemnity Insurance Policy with a minimum sum insured of Rs. 5 lakhs.
• Renewed policy documents and details must be submitted on the BEFS portal within 30 calendar days from the expiry of the existing policy.
• Members registered with both BSE and NSE are required to submit the policy document to NSE only (per Exchange notice 20250929-81 dated September 29, 2025).
• Exclusive BSE members must continue submissions to BSE via the existing process.
• System-generated alert emails are being dispatched to Trading Members as reminders.
• Policy renewal/update in BEFS is only available after the existing policy has expired — members should not attempt to submit before expiry.

Regulatory Changes

No new regulatory framework is introduced. This notice reaffirms existing requirements and references:

• Exchange Notice No. 20250929-81 (September 29, 2025): Dual-registered members (BSE + NSE) to submit only to NSE.
• Exchange Notice No. 20260417-45 (April 17, 2026): Defines disciplinary actions for non-compliance.

Compliance Requirements

• All active Trading Members: Renew Indemnity Insurance Policy with minimum sum insured of Rs. 5 lakhs.
• Submission: Upload renewed policy document and details to the BEFS portal within 30 calendar days of the current policy’s expiry.
• Dual-registered members (BSE + NSE): Submit to NSE only.
• Exclusive BSE members: Submit to BSE via BEFS as per existing process.
• If submission has already been made through BEFS, alert emails may be ignored.

Important Dates

• Submission Deadline: Within 30 calendar days from the date of expiry of the existing valid indemnity insurance policy (rolling deadline, specific to each member’s policy expiry date).
• Reference Notices: 20250929-81 (Sep 29, 2025) and 20260417-45 (Apr 17, 2026).

Impact Assessment

This is a routine operational compliance notice affecting all active BSE Trading Members. Non-compliance will be treated as a regulatory breach and disciplinary action will be initiated per Exchange Notice 20260417-45 dated April 17, 2026. There is no direct market or price impact. Members should monitor their policy expiry dates and ensure timely submission on BEFS to avoid penalties. For queries, members may contact Mr. Umesh Anchan at 022-22728397 or membership.ops@bseindia.com.