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of <h1>SEBI Mandates Audit Trail for Stock Brokers on Pre-Funded Instruments Over Rs. 50,000 to Enhance Market Integrity.</h1> The Securities and Exchange Board of India (SEBI) issued a circular mandating stock brokers to maintain an audit trail for funds received via pre-funded instruments like demand drafts, pay orders, and banker's cheques. If the value of such instruments is Rs. 50,000 or more per client per day, brokers must ensure these are accompanied by the bank account holder's name and account number, certified by the issuing bank. Stock exchanges are instructed to implement these provisions, amend relevant regulations, and report compliance to SEBI by June 30, 2011. This measure aims to prevent third-party funds and maintain market integrity.
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