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of <h1>SEBI Updates Rules for Client Fund Settlements: Brokers Can Now Settle on Fridays or Saturdays Starting January 2024.</h1> The circular issued by SEBI addresses the settlement of running accounts for client funds with Trading Members (TMs). Initially mandated for settlement on the first Friday of each quarter or month, SEBI has now allowed settlements on Fridays and/or Saturdays to alleviate operational challenges faced by brokers. Modifications to the Master Circular include allowing clients to choose settlement dates, requiring stock exchanges to issue an annual settlement calendar, and ensuring funds from settled accounts remain in a designated account to prevent misuse. These changes take effect for quarterly and monthly settlements from January 2024. Stock exchanges must update their regulations and monitor compliance.
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