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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Stock broker recordkeeping for trades, client accounts and underwriting documents, with exchange notification and audited financial filings required</h1> Stock brokers are mandated to keep and maintain specified books of account, records and documents, in physical or electronic form, including transaction registers, client and general ledgers, journals, cash and bank records, securities registers with depository-related statements for dematerialised securities, copies of contract notes, clients' written consent for principal contracts, margin/collateral records, and client account opening forms; this prescribes minimum recordkeeping for brokerage activities. Stock brokers in the Execution Only Platform segment must maintain the specified records for that segment, ensuring equivalent compliance. Each stock broker must intimate to the recognised stock exchange of which it is a member the place where such records are maintained, enabling regulatory oversight. Each stock broker must submit to the recognised stock exchange audited financial statements within six months (or as specified) after each accounting period, ensuring periodic financial reporting. Stock brokers acting as underwriters must additionally maintain underwriting agreements, subscription details, financial statements and prescribed money/asset-liability records, expanding documentation for underwriting activities.
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