TaxTMI 
TaxTMI 
Naming / Tagging of demat accounts maintained by Stock Brokers
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....ned by Stock Brokers 1. SEBI vide circular no. SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 dated September 26, 2016 had mandated uniform nomenclature to be followed by stock brokers for Naming/Tagging of Bank and Demat Accounts to reflect the purpose for which those bank/demat accounts are being maintained and the reporting of such accounts to the Stock Exchanges/Depositories. 2. Subsequently, vide circu....
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....s in respect of margin funding 4. Vide circular no. CIR/HO/MIRSD/MIRSD2/CIR/P/2017/64 dated June 22, 2017, it was also decided that naming proprietary demat accounts of the stock broker as 'Stock Broker - Proprietary Account' is voluntary and accounts which are not tagged would be deemed to be proprietary. 5. In consultation with Stock Exchanges and Depositories, it has been decided tha....
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....e for the demat accounts which are used exclusively for banking activities by stock brokers which are also banks. 7. Stock Exchanges and Depositories shall coordinate and ensure compliance of this circular by the stock brokers and submit a compliance report to SEBI on July 01, 2022 and August 01, 2022. 8. Stock Exchanges and Depositories are directed to: 8.1. bring the provisions of this Circu....