MCX-SX Circular on - List of violations and Disciplinary Action on Authorised Person observed during Inspection
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Date of Issue: 14-10-2025
Issuer: MCX-SX
List of violations and Disciplinary Action on Authorised Person observed during Inspection
Highlights of MCX-SX Circular dated October-14-2025
This has reference to Exchange Circular No. MSE/INSP/15898/2024 dated August 30, 2024, regarding the Framework for supervision of Authorised Persons (APs) & Branches by Trading Members wherein the minimum / indicative scope, criteria and guidelines of AP Inspections, along with indicative methodology was provided by the Exchange.
In addition to the above, the Exchanges have jointly specified the indicative disciplinary actions to be applied by Trading Members against their Authorised Persons (APs) in cases of non-compliance identified during AP inspections. However, while taking action against APs, the Trading Members shall consider the nature and significance of the non-compliance observed during inspection of APs and take appropriate actions over and above the indicative disciplinary actions specified by Exchanges as Trading Members are accountable for all acts of omission and commission of the authorized person.
Areas of violations are categorized into A, B and C and for each category indicative action is prescribed in attached circular.
Date of Issue: 14-10-2025
Issuer: MCX-SX
List of violations and Disciplinary Action on Authorised Person observed during Inspection
Highlights of MCX-SX Circular dated October-14-2025
This has reference to Exchange Circular No. MSE/INSP/15898/2024 dated August 30, 2024, regarding the Framework for supervision of Authorised Persons (APs) & Branches by Trading Members wherein the minimum / indicative scope, criteria and guidelines of AP Inspections, along with indicative methodology was provided by the Exchange.
In addition to the above, the Exchanges have jointly specified the indicative disciplinary actions to be applied by Trading Members against their Authorised Persons (APs) in cases of non-compliance identified during AP inspections. However, while taking action against APs, the Trading Members shall consider the nature and significance of the non-compliance observed during inspection of APs and take appropriate actions over and above the indicative disciplinary actions specified by Exchanges as Trading Members are accountable for all acts of omission and commission of the authorized person.
Areas of violations are categorized into A, B and C and for each category indicative action is prescribed in attached circular.
The detailed list of inspection areas and its categorization is attached as Annexure A.
All Members are advised to take note of the above & comply.
All Members are advised to take note of the above & comply.
In case of any clarification or assistance required in the implementation of this circular, you may contact : Kaushik Jethwa at kau...@secmark.in and 9870210171.
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