Handling of Clients’ Securities by Trading Members / Clearing Members
| Clauses | Circular Dated 20th June 2019 | Circular Dated 30th Aug 2019 |
| Clause 5 Opening and reporting of Demat Accounts by TM/CM | a) All the existing client securities accounts opened by the TM/CM other than ‘Pool account’( including ‘Early Pay-in’),‘Client Margin Trading Securities account’ and ‘Client collateral account’ shall be wound up on or before August 31, 2019 b) TM/CM shall open the unpaid securities account latest by August 31, 2019 and inform the details of the same to the respective Stock Exchanges / Clearing Corporations within one week of opening of the unpaid securities account. | a) All the existing client securities accounts opened by the TM/CM other than ‘Pool account’ ( including ‘Early Pay-in’),‘Client Margin Trading Securities account’ and ‘Client collateral account’ shall be wound up on or before September 30, 2019. b) TM/CM shall open the unpaid securities account latest by September 30, 2019 and inform the details of the same to the respective Stock Exchanges / Clearing Corporations within one week of opening of the unpaid securities account. |
| Clause 8 | Unless otherwise specified in the circular the provisions of this circular shall come into effect on September 01, 2019. Any non-compliance of the provisions issued under this shall attract the penalty and other enforcement action as may be laid down by Exchanges, Clearing Corporations, Depositories and SEBI. | Unless otherwise specified in the circular the provisions of this circular shall come into effect on October 01, 2019. Any non-compliance of the provisions issued under this shall attract the penalty and other enforcement action as may be laid down by Exchanges, Clearing Corporations, Depositories and SEBI. |
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