SEBI issues a consolidated Master Circular setting uniform registration, supervision, client protection and cyber resilience rules for stock brokers. Master Circular consolidates SEBI directives for stock brokers, superseding earlier circulars and prescribing: single registration across exchanges/clearing corporations; registration, conversion, merger and transfer rules; mandatory online application processing and document freshness; annual and risk triggered inspections, half yearly internal audits and system audits; standardized naming/tagging and reporting of bank and demat accounts; weekly and monthly uploads of client funds/collateral/securities for alerting; client onboarding standardization including UCC demat mapping, nomination and running account rules; segregation and handling of client funds and collateral; cyber security, system audit and QSB enhanced governance and continuity requirements.
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SEBI issues a consolidated Master Circular setting uniform registration, supervision, client protection and cyber resilience rules for stock brokers.
Master Circular consolidates SEBI directives for stock brokers, superseding earlier circulars and prescribing: single registration across exchanges/clearing corporations; registration, conversion, merger and transfer rules; mandatory online application processing and document freshness; annual and risk triggered inspections, half yearly internal audits and system audits; standardized naming/tagging and reporting of bank and demat accounts; weekly and monthly uploads of client funds/collateral/securities for alerting; client onboarding standardization including UCC demat mapping, nomination and running account rules; segregation and handling of client funds and collateral; cyber security, system audit and QSB enhanced governance and continuity requirements.
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