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<h1>SEBI Issues Circular on Compliance for Non-Convertible Securities; Stock Exchanges to Enforce Fines for Violations.</h1> The Securities and Exchange Board of India (SEBI) issued a circular addressing non-compliance with continuous disclosure norms for issuers of listed Non-Convertible Debt Securities, Non-Convertible Redeemable Preference Shares, and Commercial Papers. The circular outlines fines and actions for non-compliance, such as delayed financial disclosures or failure to obtain necessary approvals. Stock exchanges are tasked with monitoring compliance, imposing fines, and coordinating actions for entities listed on multiple exchanges. Fines will accrue until compliance is rectified, and proceeds will be credited to the Investor Protection Fund. The circular mandates uniform enforcement and requires stock exchanges to disclose actions taken against non-compliant entities.