Financial Daily from THE HINDU group of publications
Wednesday, May 07, 2003
Financial Daily from THE HINDU group of publications Wednesday, May 07, 2003 |
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Markets
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Stock Exchanges BSE brokers pay Rs 47 cr turnover fee Our Bureau
MUMBAI, May 6 THE Bombay Stock Exchange on Tuesday said that its member-brokers had paid Rs 47 crore to the Securities Exchange Board of India (SEBI) as turnover fee through the exchange. In addition, some brokers have paid the turnover fee dues directly to the SEBI, a BSE statement said. The stock exchanges were required to submit the turnover data of its member-brokers for payment of turnover-based fees and member-brokers had been given time to pay 50 per cent of their turnover dues to the regulator by March 31, 2003. The statement also said that, of 502 active member brokers of the exchange, 496 (over 98 per cent) have submitted the information and documents to the exchange pertaining to payment of turnover fees and the same have been forwarded to the SEBI. Of the remaining six member-brokers, there are some discrepancies in the data submitted by five and they are in the process of resubmitting correct data shortly.
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