SEBI fines: Markets regulator SEBI has imposed a penalty of Rs 3 lakh on the Bombay Stock Exchange (BSE). SEBI has imposed this penalty because BSE being a stock exchange was indirectly involved in activities not related to it. Although the effect of this penalty on SEBI was not visible on BSE, in today’s trading BSE shares saw a jump.
BSE review
Let us tell you that BSE is reviewing this decision of SEBI and is taking legal advice to deal with this entire matter. BSE in its regulatory filing said, “We inform that SEBI has passed an order dated 29th July 2022 imposing a penalty of Rs.3 lakh on BSE Ltd. The said order is being reviewed and is Appropriately dealt with in consultation with the Legal Adviser.
BSE Investment Inquiry
Actually, this matter came to light when SEBI probed the investments made by BSE. SEBI’s probe was to see whether BSE is involved in activities that it cannot do as a stock exchange without the approval of the market regulator (SEBI). The period of this investigation pertains to all existing shares held by BSE and/or its subsidiaries in other entities as of March 26, 2021. Subsequently, SEBI found that BSE was involved in this.
What happened in the investigation?
In this investigation, SEBI found that BSE has taken a stake in different businesses in several companies without the approval of SEBI. This includes companies such as BSE Technologies, Marketplace EBX Technology Services, BSE Tech Infra Services, BIL Rayson Futures, and Indus Water. According to this claim, BSE and its subsidiaries are acting without SEBI’s consent in unrelated and non-contingent activities. After this SEBI took this action. The BSE has been asked to pay the penalty amount through a demand draft within 45 days of the receipt of the SEBI order.
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