Sebi in August introduced the concept of 'accredited investor' in investment advisors (IA) and portfolio manager rules
Reconstituted Board meets on March 26
Karvy is among the country's top 10 brokerage companies, with 244,000 customers in the country
The issue has come to light after several brokers missed the August 31 deadline set by Sebi for returning client funds
In the next few years as the disruption picks up the pace, incumbents will be forced to reduce broking charges even for cash products