Don’t miss the latest developments in business and finance.

BSE asks brokers to submit bank, demat a/c details by Oct 26

Image
Press Trust of India New Delhi
Last Updated : Oct 17 2016 | 3:13 PM IST
Putting in place enhanced supervision framework for stock brokers, leading stock exchange BSE has asked them to submit the details of all their existing bank and demat accounts in a specified format by October 26.
The move comes after markets regulator Sebi, last month, issued a detailed set of guidelines for monitoring of stock brokers' financial strength as well as detecting any misutilisation of clients' funds.
"Members are requested to submit the details of all their existing bank and demat accounts in the specified format latest by October 26, 2016," BSE said in a circular.
Further, details about all new bank and demat accounts would be informed to the exchange within one week of the opening of the account, it added.
Besides, "a facility is being provided by the exchange whereby members can report details of their bank and demat accounts to the exchange, electronically," the exchange added.

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Oct 17 2016 | 3:13 PM IST

Next Story