The NSE through circular dated May 28, 2021 has issued penalty structure for Non-issuance of ‘Statement of Accounts’ for funds, securities and commodities on weekly basis to clients. NSE through circular dated February 03, 2021 advised trading members to send a complete ‘Statement of Accounts’ for funds, securities and commodities in respect of each of its clients on weekly basis on or before the next four trading days of subsequent week.
The penalty structure provides that in case of contraventions up to 25% of number of instances, fine of Rs 50,000/- will be imposed. It also provides that for contravention in excess of 25% of number of instances, fine of Rs. 1,00,000/- will be imposed. Disablement of trading terminals for 1 day or till the time the weekly statements are sent will also be
done depending upon the gravity of the case.
