Sebi tweaks framework on upstreaming clients' funds by brokers to clearing corps

To promote ease of doing business, capital markets regulator Sebi on Tuesday tweaked the framework requiring stock brokers or clearing members to upstream clients' funds to clearing corporations. This came after Sebi received representations from various stakeholders -- stock brokers, and brokers' associations citing certain operational difficulties in implementation of the framework. Stock brokers are required to maintain designated client bank account to receive funds from their clients. The clients can request SBs/CMs to release funds at any time during the day.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7tMhO1Z