Recognised stock exchange status requires SEBI approval and strict recordkeeping, audit trail, and reporting obligations. Recognised stock exchange status is conferred on NSE IFSC Limited for derivative trading, subject to SEBI approval and adherence to SEBI guidelines. The exchange must record and store client particulars including unique client identity number and PAN, maintain a complete seven-year audit trail of derivative transactions, ensure transactions once registered are not erased, permit modifications only for genuine errors while retaining data on modifications, and submit monthly Form No. 3BB to the Director General of Income-tax (Intelligence and Criminal Investigation) within fifteen days from the month end. Recognition continues until SEBI approval is withdrawn or expires and may be rescinded for violations.
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Recognised stock exchange status requires SEBI approval and strict recordkeeping, audit trail, and reporting obligations.
Recognised stock exchange status is conferred on NSE IFSC Limited for derivative trading, subject to SEBI approval and adherence to SEBI guidelines. The exchange must record and store client particulars including unique client identity number and PAN, maintain a complete seven-year audit trail of derivative transactions, ensure transactions once registered are not erased, permit modifications only for genuine errors while retaining data on modifications, and submit monthly Form No. 3BB to the Director General of Income-tax (Intelligence and Criminal Investigation) within fifteen days from the month end. Recognition continues until SEBI approval is withdrawn or expires and may be rescinded for violations.
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