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of <h1>SEBI Cuts Timeline for Brokers to Transfer Securities to Clients, Reduces to 6 Days from February 12, 2001.</h1> The Securities and Exchange Board of India (SEBI) has revised the timeline for stock brokers and clearing members to transfer securities from their CM Pool accounts to clients' beneficiary accounts from 15 days to 6 calendar days post pay-out, effective February 12, 2001. Securities not transferred within this period will incur a penalty of 6 basis points per week and will be ineligible for delivery, pledging, or stock lending until credited. From April 2, 2001, this transfer period will further reduce to 4 calendar days or 2 working days. Specific exemptions apply for certain transactions, and stock exchanges must implement these changes.
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