Regulation 16(8) compliance: freeze non compliant client portfolios, permit only sales/transfers, and require records retention. Portfolio managers must freeze portfolios of clients non-compliant with Regulation 16(8), disallow fresh purchases for such clients, permit sales and transfers from frozen portfolios to the client's account, and may accept new clients only subject to these measures. Services may be discontinued after three notices to uncooperative clients with securities/funds returned, and client-wise records must be retained for eight years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Regulation 16(8) compliance: freeze non compliant client portfolios, permit only sales/transfers, and require records retention.
Portfolio managers must freeze portfolios of clients non-compliant with Regulation 16(8), disallow fresh purchases for such clients, permit sales and transfers from frozen portfolios to the client's account, and may accept new clients only subject to these measures. Services may be discontinued after three notices to uncooperative clients with securities/funds returned, and client-wise records must be retained for eight years.
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