SEBI Imposes ₹25 Lakh Fine on BSE for Selective Data Disclosure

SEBI has imposed a ₹25 lakh fine on BSE for selectively sharing corporate disclosures with internal team members and paid clients before public release, violating fair disclosure norms. An inspection (Feb 2021–Sep 2022) revealed that BSE lacked mechanisms to ensure equal, real-time information access, including failure to implement an RSS feed. SEBI also found BSE negligent in monitoring client code modifications, allowing brokers to frequently alter trade details without disciplinary action. These lapses breached SECC Regulations, 2018. SEBI emphasized that BSE, as a frontline regulator, must uphold transparency, fairness, and compliance in handling price-sensitive company information.