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SEBI issued a circular mandating direct payout of securities to client demat accounts for operational efficiency and risk reduction. The circular, effective from October 14, 2024, requires Clearing Corporations to credit securities directly to clients' demat accounts. Measures for handling internal shortages and funded stocks under margin trading were outlined. Brokers must not levy extra charges on clients for shortages. Clients with custodian arrangements are exempt. Implementation standards to be set by Broker's Industry Standards Forum by August 5, 2024. SEBI's powers u/s 11(1) of SEBI Act, 1992, and u/s 19 of Depositories Act, 1996 were invoked to safeguard investor interests and regulate securities markets.
SEBI issued a circular mandating direct payout of securities to client demat accounts for operational efficiency and risk reduction. The circular, effective from October 14, 2024, requires Clearing Corporations to credit securities directly to clients' demat accounts. Measures for handling internal shortages and funded stocks under margin trading were outlined. Brokers must not levy extra charges on clients for shortages. Clients with custodian arrangements are exempt. Implementation standards to be set by Broker's Industry Standards Forum by August 5, 2024. SEBI's powers u/s 11(1) of SEBI Act, 1992, and u/s 19 of Depositories Act, 1996 were invoked to safeguard investor interests and regulate securities markets.
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