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Sebi gives more time to brokers for data on clients' funds

Sebi received representations from the exchanges expressing operational difficulties caused to the brokers on uploading data of the clients

Press Trust of India  |  New Delhi 

Sebi
Sebi

can submit monthly data on their clients' funds to the exchanges within three trading days after the month-end, said on Monday.

Currently, brokers need to submit this data by the next trading day.


received representations from the exchanges expressing operational difficulties caused to the brokers on uploading data of the clients.

Accordingly, in view of the operational difficulties being faced by the stock brokers, asked them to "submit the data as on the last trading day of every month to the stock exchanges on or before the next three trading days till March 31, 2018".

After that, the uploading of that data by the broker to the exchanges will be on weekly basis.

Brokers need to submit information about aggregate of fund balances available in all client bank accounts, including the settlement account, maintained by them across exchanges.

In addition, (Sebi) said that brokers would not be required to upload the data about custodian settled client; client with zero funds and securities; clients who did not trade in the last 12 months on the exchange system.

The regulator asked exchanges to ensure that the internal auditors also monitor the corrective steps taken by brokers to rectify deficiencies observed in the inspection carried out by as well as bourses and the compliance thereof.

The compliance status would be made as part of the internal audit report.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, September 25 2017. 23:43 IST
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