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    <description>Brokers must display SEBI&#039;s prescribed Risk disclosures (Annexure I) to individual clients on login, require acknowledgement before trading, and ensure the disclosures occupy at least fifty percent of the screen. Qualified Stock Brokers must maintain client Profit and Loss data continuously in the Annexure II format and retain such records for at least five years; exchanges and depositories must notify members and publish the disclosures with a link to the SEBI study. These requirements are effective July 1, 2023.</description>
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