Overview

• SEBI imposed the Rs 25 lakh penalty on BSE for failing to provide equal access to corporate disclosures and for inadequate oversight of trading practices
• The regulator’s 45-page order found that BSE’s system architecture allowed paid subscribers and internal compliance staff to view announcements ahead of the public website
• SEBI flagged BSE’s failure to discipline brokers over frequent client code modifications and its weak monitoring of error accounts as serious compliance lapses
• The probe noted that BSE did not deploy an RSS feed, a measure that could have ensured simultaneous information dissemination to all market participants
• After the penalty was announced, BSE’s share price fell more than 1% and the exchange has since introduced time gaps in releasing data to paid clients