Brokers feel the heat of new Sebi diktat

Markets regulator has directed brokers to maintain records of clients placing orders with them

According to a Livemint report, stock exchanges and brokers are collectively protesting against a recent Securities and Exchange Board of India (Sebi) diktat, requiring brokers to keep evidence of every instruction given by their clients with regard to trades in equities and equity derivatives.

Business Standard provides an explanation to the new diktat, the reason behind its introduction and why brokers are feeling the heat:
 

What’s the new rule?

On September 26, Sebi issued a circular, directing brokers to maintain records of clients placing orders with them. The markets regulator said the evidence, thus collected, may act