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of <h1>SEBI Mandates Separate Accounts for Client Transactions, Sets Guidelines for OTC Exchange Governance and Compliance.</h1> The Securities and Exchange Board of India (SEBI) issued regulations mandating members and dealers to maintain separate bank accounts and books for clients' transactions to distinguish them from personal accounts. These rules require clear documentation of securities transactions, including receipts and payments, and mandate timely settlement of trades. Members/dealers must adhere to specific guidelines for depositing and withdrawing client funds, maintaining transaction records, and managing client margins. The notification also outlines the organizational structure and governance of the OTC Exchange of India, including the appointment and roles of directors and sub-committees responsible for arbitration, defaults, and disciplinary actions.
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