https://www.taxtmi.com/circulars?id=58136 A stock exchange may waive penalty for a client code modification if the broker produces evidence satisfactory to the exchange that the change resulted from a genuine error, limited to one waiver per broker per quarter with an explanatory restriction on reciprocal code pairs. Proprietary trades cannot be converted to client trades and exchanges must report quarterly to the regulator all client code modifications for which penalties were waived. Exchanges must discipline frequent modifiers and put in place systems, rule amendments, member communications and report implementation status to the regulator. en-us Tue, 21 Oct 2014 00:00:00 +0530 Mon, 10 Dec 2018 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=58136 A stock exchange may waive penalty for a client code modification if the broker produces evidence satisfactory to the exchange that the change resulted from a genuine error, limited to one waiver per broker per quarter with an explanatory restriction on reciprocal code pairs. Proprietary trades cannot be converted to client trades and exchanges must report quarterly to the regulator all client code modifications for which penalties were waived. Exchanges must discipline frequent modifiers and put in place systems, rule amendments, member communications and report implementation status to the regulator. Circulars SEBI Tue, 21 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=58136