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of <h1>SEBI Mandates Segregation and Management of Client Securities; Compliance Deadline Set for April 2023.</h1> The circular outlines new regulations by the Securities and Exchange Board of India (SEBI) for handling clients' securities by Trading Members (TM) and Clearing Members (CM). It mandates the segregation of clients' unpaid securities into a 'client unpaid securities account,' with specific procedures for transferring, pledging, and selling these securities. If clients fail to meet their financial obligations, TMs/CMs can sell unpaid securities after notifying the client. The circular requires all existing unpaid securities accounts to be closed by April 15, 2023, and emphasizes compliance by stock exchanges, depositories, and clearing corporations by March 31, 2023.
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