Sebi asks BSE to pay regulatory fee on options contract
BSE in its filing to the exchanges on Friday stated that the regulator has also asked the company to pay differential regulatory fee for the past periods with applicable interest of 15% per annum on the amount remaining unpaid or belatedly paid or short paid for every month of delay.
The Securities and Exchange Board of India () has asked to pay a regulatory fee to the former based on the annual turnover fee considering "notional value" in the case of the .BSE in its filing to the exchanges on Friday stated that the regulator has also asked the company to pay a differential regulatory fee for the past periods with applicable interest of 15% per annum on the amount remaining unpaid or belatedly paid or short paid for every month of delay.
BSE has to pay the amount within one month of the receipt of the letter, the filing said.
Sebi board had introduced the regulatory fee on recognised stock exchanges under the Securities and Exchange Board of India (Regulatory Fee on Stock Exchanges) Regulations 2006. Under the regulations, exchanges are required to pay the fee to the board within 30 days of the conclusion of a financial year. The rate of regulatory fee was based on the annual turnover of the stock exchanges.
"Since the introduction of derivatives contracts, BSE including the erstwhile United Stock Exchange (USE) which got merged into BSE in FY 2014-15 has been paying the regulatory fee on annual turnover to the Board considering premium value of the contracts instead of notional value", the exchange filing read.
BSE shares on Friday ended at Rs 3,214 on the NSE, up by Rs 66.45 or 2.11% over the previous closing price.
Source: Stocks-Markets-Economic Times
