The Bombay Stock Exchange Brokers Forum (BBF), a not-for-profit body registered under the Societies Act 1860, consisting of around 900 members being members of Stock Exchanges (BSE/NSE), Commodity Exchanges (MCX, NCDEX) and Depository Participants of Depositories (CDSL/ NSDL). The Capital Market intermediaries are a heterogeneous group, where on one hand we have the small mom and pop shop type organisations and at the other end of the spectrum large institutions like banks. BBF attempts to work for the benefit of the Capital Markets in general and its members in particular.
Compliance with the law is the basic regulatory expectation by the authorities from its citizens. As an association, we believe that the majority of our members are law abiding.
However, whenever a new requirement is envisaged, the market participants are faced with the twin issues of
. Understanding the new law
. Consequent changes in their systems and processes
The matters are further compounded by the lack of availability of sufficient professionals conversant with the matter to guide the market participants. At times, the costs of the professionals are prohibitive for a majority of small and medium enterprises.
In such situations, BBF tries to educate its members in the form of
. Issuance of circulars/ communications
. Conducting seminars (one to many)
. Conducting camps (one to one)
BBF also runs a Google group (BrokersForum googlegroup) where members post queries and are responded to by other fellow members on the matter.
BBF attempts to bring professionals/ regulators/ law writers/ exchanges/ depositories / experts as speakers at its seminars to address the participants.
. To provide feedback to the authorities in practical issues with the implementation of law
. To give policy feedback at the time of law creation to balance ensure easy implementation of law
. To guide the members
We strive to ensure that non-compliances due to ignorance be reduced to the greatest possible extent.