Stock Brokers should maintain current accounts in multiple banks for holding of client funds: SEBI clarifies

In order to facilitate seamless settlement of funds and for the convenience of investors, the SEBI has clarified that Stock Brokers should maintain current accounts in appropriate number of banks (subject to the maximum limit prescribed by Stock Exchanges/SEBI from time to time) for holding the client funds (i.e., Client Account), for settlement purposes and any other accounts mandated by Stock Exchanges.In order to facilitate seamless settlement of funds and for the convenience of investors, the SEBI has clarified that Stock Brokers should maintain current accounts in appropriate number of banks (subject to the maximum limit prescribed by Stock Exchanges/SEBI from time to time) for holding the client funds (i.e., Client Account), for settlement purposes and any other accounts mandated by Stock Exchanges.taxmann.com Latest Statutory HappeningsRead More

Leave a Reply