https://www.taxtmi.com/circulars?id=58469 Modifications of client codes for non-institutional trades are allowed only to correct genuine entry errors; exchanges permitting such modifications must adopt strict objective criteria approved by their Governing Board, disclose them, monitor trading members' compliance, and include modifications in internal audits. Exchanges must levy penalties-credited to the Investor Protection Fund-based on the ratio of modified non-institutional turnover to total non-institutional turnover, with a lower penalty at or below five percent and a higher penalty above five percent. If the ratio exceeds one percent in a month, the exchange shall conduct a special inspection and may take disciplinary action. en-us Tue, 05 Jul 2011 00:00:00 +0530 Wed, 19 Dec 2018 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=58469 Modifications of client codes for non-institutional trades are allowed only to correct genuine entry errors; exchanges permitting such modifications must adopt strict objective criteria approved by their Governing Board, disclose them, monitor trading members' compliance, and include modifications in internal audits. Exchanges must levy penalties-credited to the Investor Protection Fund-based on the ratio of modified non-institutional turnover to total non-institutional turnover, with a lower penalty at or below five percent and a higher penalty above five percent. If the ratio exceeds one percent in a month, the exchange shall conduct a special inspection and may take disciplinary action. Circulars SEBI Tue, 05 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=58469