Demat account tagging required; untagged broker accounts face prohibition on securities credits and debits until properly tagged. Stock brokers must tag all demat accounts into prescribed categories-proprietary, pool, client unpaid securities, client securities margin pledge, and client securities under margin funding-and untagged accounts must be tagged by the deadline. Credits into untagged accounts will be disallowed except for corporate actions, with debits barred after a later enforcement date. Brokers must seek exchange approval for tagging where required; exchanges shall grant approval within two working days after imposing penalties and must coordinate compliance, amend bye laws, and report to the regulator. Bank exclusive demat accounts are excluded.
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Demat account tagging required; untagged broker accounts face prohibition on securities credits and debits until properly tagged.
Stock brokers must tag all demat accounts into prescribed categories-proprietary, pool, client unpaid securities, client securities margin pledge, and client securities under margin funding-and untagged accounts must be tagged by the deadline. Credits into untagged accounts will be disallowed except for corporate actions, with debits barred after a later enforcement date. Brokers must seek exchange approval for tagging where required; exchanges shall grant approval within two working days after imposing penalties and must coordinate compliance, amend bye laws, and report to the regulator. Bank exclusive demat accounts are excluded.
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