Financials News

Stock exchange filings to be only in machine-readable, searchable format

Stock exchange filings to be only in machine-readable, searchable format

Mumbai: Leading bourses NSE and BSE have asked all listed companies to ensure that all their disclosures are filed in machine-readable and searchable format only.

Noting that there have been many instances where corporate announcements have not been submitted in the desired format, the exchanges in separate circulars said they have been directed by the Sebi to advise all listed companies to submit details in machine-readable and searchable form.

“All listed companies are required to submit all the corporate announcements to the exchange in a machine readable and searchable form in addition to what is being provided currently by companies,” NSE said in a circular.

“Companies are directed to strictly adhere to the requirement for all corporate announcements filed hereafter,” the exchange added.

Similarly, in a circular BSE said, “it has been observed that PDF documents, filed by companies on the listing centre, as corporate announcements, are not machine readable or searchable.”

“This causes considerable hardships to the investors at large and also regulators for searching the company filings using the relevant keywords for various purposes,” it added.

As per Sebi norms, listed companies are required to file the reports, statements, documents, filings and any other information with the recognised stock exchange on the electronic platform.

Accordingly, NSE and the BSE have provided electronic platform for listed companies to file documents.

“Image files, whcih are being submitted as attachments, will not be accepted and only searchable PDF files should be attached going forward,” the BSE said.

PTI