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    <title>SMD Circular No12 dated May 17, 2002</title>
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    <description>The circular withdraws the temporary sale-side margin requirement on financial institutions, FIIs, banks and mutual funds that was based on a minimum VaR differential, and withdraws the temporary 10% price band on selected derivative-underlying stocks. The 10% upfront margin requirement for clients (excluding FIs, FIIs, MFs) is narrowed so brokers collect it only where the resulting margin reaches the specified collection threshold; certification of collection will be carried out by the compliance officer under the broker regulations.</description>
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    <pubDate>Fri, 17 May 2002 00:00:00 +0530</pubDate>
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      <link>https://www.taxtmi.com/circulars?id=61213</link>
      <description>The circular withdraws the temporary sale-side margin requirement on financial institutions, FIIs, banks and mutual funds that was based on a minimum VaR differential, and withdraws the temporary 10% price band on selected derivative-underlying stocks. The 10% upfront margin requirement for clients (excluding FIs, FIIs, MFs) is narrowed so brokers collect it only where the resulting margin reaches the specified collection threshold; certification of collection will be carried out by the compliance officer under the broker regulations.</description>
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      <pubDate>Fri, 17 May 2002 00:00:00 +0530</pubDate>
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