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of <h1>SEBI Circular: Power of Attorney for Stock Brokers Optional, Not Mandatory; Compliance by November 1, 2020.</h1> The circular from the Securities and Exchange Board of India (SEBI) addresses the execution of Power of Attorney (PoA) by clients in favor of stock brokers and depository participants. It emphasizes that PoA is optional and should not be mandatory for account opening. The PoA should only be used for specific purposes like securities transfer for stock exchange settlements and meeting margin requirements. Misuse of PoA for unauthorized activities is prohibited. Off-market securities transfers require client consent via physical or electronic means, including OTP verification. The circular mandates compliance by November 1, 2020, and requires amendments to relevant regulations.
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