The National Stock Exchange of India has reached a settlement with the Securities and Exchange Board of India in a case related to storage and alleged illegal outsourcing historical trade data to a third party vendor, according to a statement by the markets regulator. The settlement amount stands at Rs 40.35 crore.
The NSE settlement order comes into force with immediate effect with the regulator not initiating any enforcement action against NSE.
The settlement case is related to technical auditing related issue from 2021 to 2022. The regulator has found some short comings and asked NSE to conduct internal review and identify the defaulting officers. However, the leading bourse has decided to neither accept nor deny any wrongdoings.
This comes nearly a month after NSE had filed for settlement in the pending co-location and dark fibre cases.
An amount of between Rs 1,300 crore to Rs 1,400 crore was offered as part of the proposed settlement, people in the know had told NDTV Profit in June. They also added that the matter remains pending for approval from the SEBI.
The initial public offering of the National Stock Exchange has been the subject of much discourse in the past few years. However, it seems that the fog around it is finally becoming thinner, especially since the markets regulator has also changed its stance on two major issues—the demerger of clearing corporations from their parent exchanges and a softer stance for allowing listing of companies with a large public float.
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