Clients of registered sub brokers entitled to investor protection fund compensation when the member broker defaults. Where a member broker defaults, clients who transacted through a registered sub broker are to be treated as clients of that member and are eligible to submit claims against the Investor Protection Fund/Customer Protection Fund; stock exchanges must entertain and process legitimate compensation claims from such clients and should not deny claims solely because the dealings were through a registered sub broker.
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.
Clients of registered sub brokers entitled to investor protection fund compensation when the member broker defaults.
Where a member broker defaults, clients who transacted through a registered sub broker are to be treated as clients of that member and are eligible to submit claims against the Investor Protection Fund/Customer Protection Fund; stock exchanges must entertain and process legitimate compensation claims from such clients and should not deny claims solely because the dealings were through a registered sub broker.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
