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BSE asks brokers to submit internal audit report by 30 June

LiveMint logoLiveMint 31-05-2017 PTI

New Delhi: Leading stock exchange BSE on Wednesday directed brokers to submit internal audit report for the half year ended 31 March 2017 by 30 June in electronic form.

Non-submission of the report within the cut-off period will attract penalty. All brokers and clearing members are required to carry out complete internal audit on a half-yearly basis by independent chartered accountants or company secretaries who do not have any conflict of interest.

“All trading members/clearing members are directed to submit the internal audit report for half year ended March 31, 2017 to the exchange on or before June 30, 2017,” BSE said in a circular.

The documents will not be accepted in physical form, it said.

Non-submission or delay in submitting the report by 30 June will be treated as non-compliance.

“Stock brokers are reminded to submit the internal audit report electronically ... before the due date in order to avoid non-delay submission charges and any disciplinary action against them for the non-submission of the report,” the exchange said.

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