Notice

Redressal of investor grievances against listed  companies in SEBI
Complaints Redress System (SCORES).

 

 

 

N O T I C E

 

 

To All Members

 

 

Sub:  Audit Report and Balance Sheet

 

In terms of instructions issued by Govt. Of India vide Circular dated May 31st 1984, the member brokers

of the Stock Exchange are required to file the Audit Report and Balance Sheet with the Exchange

for the year 31st March, before the 30th October of that year.

 

All Members are requested to submit the Audit Report and Balance Sheet for the year ended 31st March 2012,

on or before 30th October 2012.

 

 

 

 

 

SHALLY ROSE P. J

Assistant Manager

 

 

 

 

 

 

Ref: SE/L/283/2011                                                              21st July, 2011

 

 

 

 

N O T I C E

 

For the Attention of Trading Members:

 

The Inter-connected Stock Exchange of India Limited (ISE) has been permitted to install and commission an RF MPLS Tulip Link to the Cochin Stock Exchange Limited (CoSE) to enable members to participate in the mock session of the ISE trading platform.  The platform can also be used when trading goes live on the ISE.

 

The Memorandum of Understanding executed by the Exchange  with the ISE under Section 13 of the Securities Contract (Regulation) Act., would enable trading in  permitted scrips listed on the CoSE as well as those listed on the ISE and the other Exchanges participating in the trading arrangement.  The Exchange has requested  approval from the Securities and Exchange Board of India for the arrangement envisaged.  The modalities pertaining to the same are being discussed and will be finalized with the approval of the Securities and Exchange Board of India.

 

The software required for the mock trading has been installed on a computer in the trading floor.  Members who are interested may participate in the mock sessions (as per schedule enclosed) and communicate your views / suggestions for improvement to the ISE.  The guidelines for trading have been downloaded on the system.  Shri Francis Lewis K., Deputy General Manager or Shri Jickson (Junior Officer - Systems Department) can be contacted for any assistance or clarification required.

 

 

 

    Sd/-

Gopika P.

Executive Director (Officiating)

 

Ref: SE/L/152/2011                                                                               27th April, 2011

 

 

 

Kind Attn:  All Members

 

 

 

Sub: Submission of Half Yearly Internal Audit Report – no longer necessary

 

Ref: (1)  Our notice No.SE/L/511/2008 dated August 23, 2008

         (2) Our notice No.SE/LIST/92/2010 dated June 15, 2010

         (3) Our notice No.SE/L/362/2010 dated August 3, 2010

 

 

Brokers may please take note that the requirement for submission of Half Yearly Internal Audit  Report by the stock brokers as stipulated vide our communications referred above is no longer necessary.  The requirement has been waived by the Governing Board of the Exchange in view of the clarification issued by the Securities and Exchange Board of India.   

 

Since the requirement has been done away with, with immediate effect, the internal audit report need not be submitted for the half years beginning October, 2010. 

 

 

     Sd/-

Gopika P.

Manager – Legal & Compliance

 

 

 

 

Ref . SE/A/042/ 2010                                                                      July 21, 2010

 

 

To all   Members.

 

 

Sub : Details  of Registered stock brokers on SEBI website.

 

 

 

The details of the stock brokers of Cochin Stock Exchange Ltd. registered with SEBI have been uploaded on the   website   of the Securities and Exchange Board of India [www.sebi.gov.in].  Trading Members are requested  to  view the details  and ascertain whether the details  are accurate and  up to date  .The details can be accessed  through  ‘Recognized  Intermediaries’  under ‘Intermediaries’ link.

 

 

Discrepancies if any, noticed, may be informed in writing at the earliest and lodged with Mrs. Lisha. P. Sundaran,  Assistant Manager - Membership.

 

 

 

Thanking you

 

Yours faithfully,

 

 

 

GOPIKA. P

Manager- Legal & Compliance

 

 

 

 

 

 

 

 

Ref: SE/L/406/2010                                                                       8th September, 2010 

 

 

Dear Shareholder,

 

 

The shareholding of  a recognized Stock Exchange has to be in compliance with the stipulations in the Securities Contracts (Regulation) (Manner of Increasing and Maintaining Public Shareholding in recognized Stock  Exchanges) Regulations, 2006 [Regulation].  

 

In line with the requirements laid down in the Regulation a clarification  has to be furnished by the shareholder as to whether he is an ‘associate’ in relation to a shareholder having trading rights.  The shareholder should also disclose, if applicable, the names of persons / entities that may be construed as ‘persons acting in concert’ as defined under Section 2 (e) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 1997. 

 

The disclosure and declaration in the format given should be submitted to the Exchange office within 15 days from the date of acquisition of the shares.  In case the same is not furnished it will be construed that the shareholder has no trading interest or association with trading entities.  In the eventuality of facts being determined to the contrary, the shareholder and associates shall be liable to penalties as provided in the Regulations. 

 

 

Thanking you,

 

Yours faithfully,

 

   Sd/-

Gopika P.

Manager – Legal & Compliance

 

Encl: Form of Disclosure

 

 

 

 

Ref:SE/L/362/2010                                                                                3rd August, 2010

 

N  O  T  I  C  E

 

TO ALL MEMBERS OF THE EXCHANGE ACTIVE ON THE SUBSIDIARY

 

1.      Submission of half yearly Internal Audit Report by Stock Brokers

 

As already informed, SEBI has issued circular No.MIRSD/DPS-III/Cir-26/08 dated August 22, 2008, wherein it had been directed that all stock brokers should get complete internal audit carried out by independent, practicing Chartered Accountant, Company Secretary or Cost and Management Accountants on a half yearly basis.   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 requirements stand further confirmed by SEBI vide its circular No.SEBI/MIRSD/Master Cir-04/2010 dated 17.03.2010.  

 

The members are required to forward the Internal Audit Report with paragraph wise comments to the Stock Exchange within 3 months from the end of each half year period.  Accordingly, as on date the reports for the following half years have fallen due for submission.

 

(1) 1st October, 2008 to 31st March, 2009    – Due on 30th June 2009

(2) 1st April, 2009 to 30th September, 2009 – Due on 31st December 2009

(3) 1st October, 2009 to 31st March, 2010    – Due on 30th June 2010

 

SEBI has advised the Exchange to submit an action taken report on compliance of the above requirement.  In view of the mandatory stipulations as above, the Governing Board has decided to grant an extension of time till 30th September, 2010, for all compliances pertaining to the past periods.  

 

Stock Brokers active on the subsidiary, who have not submitted the Internal Audit Reports for the half year periods indicated above are requested to submit the same latest by 30th September, 2010.   Non-compliance will entail penalty of Rs.10/- per day of delay beginning 1st October, 2010 till 31st December, 2010.  Those who fail to submit the above mentioned three Internal Audit Reports by 31st December, 2010 will be liable to stringent action including suspension from trading in CSBL.

 

For the half years beginning April, 2010 a penalty of Rs.10/- per day of non-compliance will be levied  after the last date, which is three months from the end of the respective half year.  The penalty will apply till the due date of the succeeding half year report.  

 

Please check the link for the full text of the relevant circulars (circular1, circular2, circular3 and master circular), the scope of audit and the format of the audit reports.  You may contact the office of the Exchange for further clarifications, if required.

 

2.      100% inspection of books of accounts of brokers

 

The SEBI master circular No.SEBI/MIRSD/Master Cir-04/2010 dated 17.03.2010 has stipulated 100% inspection of the active sub--brokers as against 20% presently in vogue.   The Exchange will conduct the inspection through its panel of auditors and the audit fee will be debited from the members on an actual basis.  All members active on the subsidiary are requested to submit their books of accounts latest by 30th October, 2010, for the financial year ended on 31.03.2010.

 

 

For Cochin Stock Exchange Ltd,

By Order of the Board of Directors,

 

 

Gopika P.

Manager – Legal & Compliance

 

 

 

 


 

Ref: SE/LIST/92/2010                                                                       June 15, 2010

 

 

N O T I C E

To All Members

 

Sub:  Half Yearly Internal Audit Report

 

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                                                                         5th November, 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 3rd November, 2009 received from SEBI is enclosed.

 

 

 

 

(GOPIKA P.)

Manager – Legal & Compliance

 


 

Ref: SE/L/591/2009                                                                 2nd November, 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 19th November, 2008  amended the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations 1992. Pursuant to the amendment a few changes have been made in the manner and extent of disclosure, the time period for disclosure, penalty clauses and also in the schedules incorporated   in the Regulation.  The full text of the Regulation and the amendment is available in the following link.:

 

 

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                                                                     23rd August, 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 1st October, 2008 to March 31, 2008. All stock brokers are requested to ensure compliance of the above mandatory requirements and file the audit reports with the Exchange within 15 days after the stipulated audit periods.  

 

The relevant circular is enclosed.  You  may contact the office of the Exchange for further clarifications, if required.

 

 

 

 

(GOPIKA P.)

Manager – Legal & Compliance


 

 

April 25, 2008

 

 

For the information of existing and prospective shareholders.

 

Sub: Acquiring shares of Cochin Stock Exchange.Ltd.

 

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 April 17, 2008 wherein the term shareholder having trading rights has been further clarified to mean  as under:

 

"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


 

 

March 19, 2007 

Notice to  Members

 

Sub: Divestment of Equity Shares of the Exchange

 

Reference to our Circular dated March 12, 2007 on the above subject, the following persons shall be deemed as relatives in accordance with Section 6 read with Schedule 1A of the Companies Act, 1956.

 

Meaning of “relative” u/s. 6

 

“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 Schedule IA.”                            

 

Schedule IA

 

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)

     22  Sister’s husband

 

For Cochin Stock Exchange Ltd.

 

    Sd/-

(GOPIKA P.)

Manager – Legal & Compliance

 

 


 

 

 

Ref: SE/A/566/2006                                                                  October 6, 2006

 

NOTICE TO MEMBERS

 

SEBI has notified the SEBI (Stock Brokers and Sub Brokers) (Third Amendment) Regulations 2006 vide notification No S.O.1600(E) dated 25th September 2006. Schedule III A has been newly  introduced and Schedule IV has been amended.

 

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 India (Stock Brokers and Sub-brokers) (Third Amendment) Regulations 2006 and also SEBI’s Circular No. MIRSD/DR-1/FC/Cir-15/2006 dated September 29, 2006 and the corrigendum to the said circular.

 

    Sd/-

(GOPIKA P.)

Legal Officer