Ref: SE/LIST/92/2010 June 15, 2010
To All Members
As per the SEBI Circular SEBI/MIRSD/Master Cir-04/2010 dated March 17, 2010 the member brokers should carry out complete internal audit on a half yearly basis by an independent qualified Chartered Accountant, Company Secretary or Cost and management Accountant who is in practice and does not have any conflict of interest.
The internal auditor shall submit the audit report to the member, who shall place it before its Board of Directors/Proprietor/Partners and shall forward the same along with para-wise comments to the respective stock exchange/clearing corporation within three months from the end of the half year period.
All Members active through the subsidiary are requested to submit the half yearly internal Audit Report for the six months period ended on 31/03/2010 at the earliest. Failure to submit the same will invite penalty/suspension of trading as decided by the Governing Board of the Exchange.
SHALLY ROSE P. J
Assistant Manager
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Ref: SE/L/604/2009
N O T I C E
The Securities and Exchange Board of India has passed an
order against brokers who have defaulted in payment of fees in the manner
specified in the SEBI (Stock Brokers and Sub-brokers) Regulations, 1992. The Order No.WTM/MSS/MIRSD/25/2009 dated
29.10.2009, has been passed by the Whole Time Member, SEBI, suspending the certificates of registration
of the following stock brokers for a period of six months or till the time
outstanding registration fees is fully paid, whichever is later.
|
Sl.No. |
Broker Name |
Regn. Number |
|
1. |
Thomas P. Mathew |
INB090283312 |
|
2. |
V.R. Surendran Nair |
INB090275917 |
|
3. |
V.K. Sheela |
INB090619913 |
|
4. |
Valsa Abraham |
INB090294614 |
|
5. |
Vinod Kuamr
S. |
INB090284419 |
|
6. |
Beena Jose Pallickaprampil |
INB090293811 |
|
7. |
A&P Capital Services Pvt. Ltd. |
INB090786239 |
|
8. |
Thomas John K. |
INB090293116 |
|
9. |
Kadavil Chacko
Chacko |
INB090689414 |
|
10. |
Gabin Capital Markets Ltd. |
INB091127838 |
|
11. |
Dominic Paul Manavalan |
INB090621617 |
|
12. |
Maliram Makharia
Stock Brokers Pvt. Ltd. |
INB090779539 |
|
13. |
Manyur Jadavji
Manek |
INB090300315 |
|
14. |
P.G. Hormese Tharakan |
INB090269414 |
|
15. |
Sathya Krishna Kumar |
INB091027012 |
|
16. |
Pioneer Securities Pvt. Ltd. |
INB090708736 |
|
17. |
Vadakkekalam Joseph Mathew |
INB090289511 |
Copy of the Order and the communication
No.MIRSD/DR1/181607/2009 dated
(GOPIKA P.)
Manager – Legal & Compliance
Ref:
SE/L/591/2009
N O T I C E
The following brokers of the Exchange have been suspended on the dates below mentioned for the reasons indicated against their names. It is observed that the directions of the Governing Board and the stipulations in the bye-laws and regulations have not been complied with by these brokers till date. They have also not responded to the notices issued in this behalf.
|
Sl. No. |
Trade Code |
Firm Name |
Date of suspension |
Reason |
|
1. |
560 |
T.C.N. Associates |
06.01.2004 |
Subscription & other arrears and BMC shortfall. |
|
2. |
648 |
Rajeswari Varma |
06.01.2004 |
Subscription arrears and BMC shortfall. |
|
3. |
649 |
Varghese D. Pynadath |
31.08.2004 |
BMC shortfall |
|
4. |
662 |
Vantage Corporation |
31.08.2004 |
BMC shortfall and arrears. |
|
5. |
669 |
P. Shajil Babu |
31.08.2004 |
BMC shortfall |
Notice is hereby given to the brokers aforementioned that the steps required to set right the non-compliance may be initiated and completed within 15 days from the date of this notice. The report on compliance will be placed for the consideration of the Governing Board Non-compliance could entail penal measures including declaration as defaulters / expulsion, without any further notice or warning.
Sd/-
(GOPIKA P.)
Manager – Legal & Compliance
To all listed companies.
Sub: SEBI( Prohibition of Insider Trading)(Amendment) Regulations, 2008
The Securities and Exchange Board of India has vide
notification dated
Companies listed with the Cochin Stock Exchange are advised to comply with the amended regulations for future disclosure and the compliance related filing.
Dated this the 30th day of December, 2008.
Shally Rose P.J.
Assistant Manager- Listing
Ref:
SE/L/511/2008
TO ALL MEMBERS
Dear Sir / Madam,
SEBI has issued circular No.MIRSD/DPS-III/Cir-26/08 dated August 22, 2008 wherein it has been mandated that all stock brokers shall carry out complete internal audit on a half yearly basis by independent qualified Chartered Accountants. The scope of such audit shall cover, inter-alia, the existence, scope and efficiency of the internal control system, compliance of the provisions of SEBI Act., 1992, the Securities Contract Regulation Act, 1956, the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992, the ‘Know Your Client’ requirements etc.
The first audit period shall be between
The relevant circular is enclosed. You may contact the office of the Exchange for further clarifications, if required.
(GOPIKA P.)
Manager – Legal & Compliance
For the information of existing and prospective shareholders.
Sub:Acquring shares of
The Cochin Stock Exchange Ltd. is today a demutualised entity, having been demutualised in accordance with the tenets of the Cochin Stock Exchange Ltd.(Demutualisation) Scheme, 2005(scheme). Subject to the provisions of Sub Section 8 of Section 4(B) of the Securities Contract Regulation Act and the Scheme and Securities Contracts (Regulation) (Manner of Increasing and Maintaining Public Shareholding in Recognised Stock Exchanges) Regulations, 2006 (Regulations), the Exchange has to ensure that atleast 51% of its Equity Share Capital is continuously held by members of the ‘public’. The term ‘public’ includes any member or section of the public but does not include any shareholder of the recognized stock exchange having trading rights therein or any associate of such shareholder. The term associate assumes the meaning given in definition 2(1) B of the regulations.
Investors are requested to note that no person shall directly or indirectly acquire or hold more than 5% in the paid up equity capital of the Stock Exchange at any time after the commencement of the regulations. It may also be noted that no person shall either individually or together with persons acting in concert with him, acquire and/or hold more than 1% of the paid up equity capital of the Exchange unless he is a ‘fit and proper’ person and has taken prior approval of SEBI for doing so.
In
this context reference may also be had to SEBI Circular No MRD/DSA/SE/Cir-09/08 dated
"The term “shareholder having trading rights” would mean a shareholder who has a trading interest in the stock exchange, whether directly or indirectly through a person having trading rights.
Explanation:
A shareholder having a trading interest “indirectly” in relation to a person having trading rights, would be understood in the same manner as the term “associate” is in relation to a shareholder having trading rights under regulation 2(1)(b) of the Securities Contracts (Regulation) (Manner of Increasing and Maintaining Public Shareholding in Recognised Stock Exchanges) Regulations, 2006".
All investors acquiring shares of the Exchange who have direct or indirect trading interest are requested to notify details of their holdings and the nature of their interest to the Exchange. It is hereby informed that the Exchange reserves the right to direct any shareholder to disinvest their share holding in the Exchange in such manner as may be discerned fit by the Exchange.
Existing shareholders who are associates of trading members or who have indirect trading interest are required to send necessary intimation in this regard to the Exchange. In the absence such intimation it will construed that they have no trading interest or association with trading entities. In the eventuality of facts being determined to the contrary, such shareholders and their associates shall be liable to penalties as provide in the regulations. The full text of the regulations is enclosed for perusal.
GOPIKA P.
Manager – Legal & Compliance
Reference to our Circular dated
“S. 6. A person shall be deemed to be a relative of another if, and only if,
(a) they are members of a Hindu undivided family; or
(b) they are husband and wife; or
(c) the one is related to
the other in the manner indicated in
1. Father
2 Mother (including step-mother)
3 Son (including step-son)
4 Son’s wife
5 Daughter (including step-daughter)
6 Father’s father
7 Father’s mother
8 Mother’s mother
9 Mother’s father
10 Son’s son
11 Son’s son’s wife
12 Son’s daughter
13 Son’s daughter’s husband
14 Daughter’s husband
15 Daughter’s son
16 Daughter’s son’s wife
17 Daughter’s daughter
18 Daughter’s daughter’s husband
19 Brother (including step-brother)
20 Brother’s wife
21 Sister (including step sister)
For Cochin Stock Exchange Ltd.
Sd/-
(GOPIKA P.)
Manager – Legal & Compliance
Ref:
SE/L/461/2006
N O T I C E TO M E M B E R S
Sub: Final opportunity for members of the Promoter Exchanges to register themselves as Trading Members of ISE in accordance with the scheme of admission formulated earlier
We have received a letter (page1 page2) from Inter-connected Stock Exchange of India Limited regarding the final opportunity for members of the Promoter Exchanges who are interested in becoming Trading Members of ISE as per the terms and conditions stipulated by ISE.
The
last date for submitting applications with ISE is on or before
It may be noted that this is the last opportunity provided by ISE. Interested Members may submit the completed applications for ISE Membership before the last date.
(GOPIKA P.)
Legal Officer
Ref:
SE/A/580/2006
PRESS RELEASE
The arrangement would provide cost advantage in terms of initial investment and operating costs to the Members to trade on NSE. It would also provide liquidity for the stocks listed on CSE by allowing it to be traded on NSE under permitted securities category. The arrangement would be implemented subject to prior approval of SEBI for which Exchange is making an application.
For Cochin Stock Exchange Ltd.
R.K. PILLAI
EXECUTIVE DIRECTOR
Ref:
SE/A/566/2006
SEBI has notified the SEBI (Stock Brokers and Sub
Brokers) (Third Amendment) Regulations 2006 vide notification No S.O.1600(E) dated
By virtue of the new Schedule IIIA , a new fee structure has been introduced. Since brokers are presently ruled by Schedule III in the matter of payment of SEBI fee, the points of time at which the new schedule III A would be applicable is as follows:
Schedule III A - Part A – Applicability
1. This schedule shall apply to stock brokers from the following points of time:
(a) All stock brokers who are granted registration by the Board on or after the first day of October, 2006 – upon grant of such registration;
(b) All stock brokers who were granted registration by the Board on or after the first day of April, 2006, but before the first day of October, 2006 – from the first day of October, 2006;
(c) All stock brokers who have not completed five financial years from the date of grant of registration by the Board, as on the thirty first day of March, 2006 – upon completion of ten financial years from the date of grant of registration by the Board;
(d) All stock brokers who have completed five financial years from the date of grant of registration by the Board, as on the thirty first day of March, 2006 –
upon completion of the current block of five financial years, within the meaning of item I(1)(c) of Schedule III;
(e) All stock brokers falling under sub-clauses (c) or (d), who opt in accordance with clause 2 to be governed by the provisions of this Schedule – from such date as may be specified by the Board.
2. Stock brokers falling under sub-clauses (c) or (d) of clause 1 may opt to pay fees in accordance with this Schedule before completion of the relevant time periods mentioned in those sub-clauses, by exercising an option in writing to that effect and communicating it to the Board, in such manner and within such time as may be specified by the Board.
The new fee structure as described in Part B to Schedule IIIA is as given below:
|
Sl. No. |
Nature of the securities transaction |
Rate of fee |
|
a. |
All sale and purchase transactions in securities other than debt securities |
0.0002 per cent of the price at which the securities are purchased or sold (Rs. 20/- per crore) |
|
b. |
All sale and purchase transactions in debt securities |
0.00005 per cent of the price at which the securities are purchased or sold (Rs. 5/- per crore) |
However, the Stock Broker will be liable to pay the fee that has accrued until the new rules become applicable.
The manner of payment and recovery detailed in Part C to Schedule IIIA amongst others emphasizes that the fee shall be paid during every calendar month to the respective Stock Exchanges. In case the Stock Broker defaults the payment or pays the fee belatedly, he shall be liable to pay interest @15% p.a. for every month of delay or part thereof. He shall also be liable to any other action that may be taken under the Act, Rules or Regulations.
In the result, Brokers who desire to switch over to the new fee structure in accordance with the provisions contained in Clause 1 (e) and Clause 2 of Part A to Schedule IIIA may exercise an option in writing to that effect in the prescribed format and address the same to the Exchange.
In this connection brokers are advised as follows:
A. As per sub clause 2 of Schedule III A of Regulations, Stock brokers falling under sub clause (c) and (d) of clause 1 of Schedule III A of Regulations, may opt to pay fees in accordance with this schedule with effect from October 01, 2006 or April 01, 2007 for which written consent to be given to the stock exchange on or before 31st day of October, 2006 or 28th day of February, 2007 respectively, in the format specified.
B. As per clause 5(1) (b) of Schedule III A of Regulations, fee is payable in respect of off market transactions entered into by stock brokers and which are reported to that stock exchange. The stock brokers having multiple memberships are required to report off market transactions on the respective stock exchanges and shall be required to pay the fees only at the one stock exchange as opted by the stock broker. For this purpose the stock broker shall be required:
(i) to express in writing the name of the stock exchange where the off market transactions be included for the payment of fees.
(ii) to intimate the respective stock exchanges where he is having multiple membership about his intention for inclusion of off market transaction in the chosen stock exchange.
A declaration with respect to (A) and (B) above shall also be given to the Exchange by the stock brokers.
PB: Kindly refer to the Securities and Exchange Board
of
Sd/-
(GOPIKA P.)
Legal Officer
