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Sebi gives more time to brokers for data on clients’ funds

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Sebi gives more time to brokers for data on clients’ funds
Stock brokers can submit monthly data on their clients’ funds to the exchanges within three trading days after the month-end, the Securities and Exchange Board of India (Sebi) said on Monday. Currently, brokers need to submit this data by the next trading day.

Sebi received representations from the exchanges expressing operational difficulties faced by the brokers on uploading data of the clients.

Accordingly, Sebi asked them to “submit the data as on the last trading day of every month to the stock exchanges on or before the next three trading days till March 31, 2018”. After that, the uploading of that data by the broker to the exchanges will be on weekly basis.

BSE asks brokers to submit info on surplus, loss by Oct 31

To keep a check on the financial strength of brokers, the BSE has asked its members to submit details about surplus, accumulated loss in a prescribed format by October 31. Besides, they need to provide data about share capital; collaterals and margins from customers; value of loans given to group companies; and value of investments in group firms. In a circular, the exchange has asked brokers to submit the information for the period 2015-16 and 2016-17. “Due date for the submission of the details is October 31, 2017,” BSE said.

The Business Standard, New Delhi, 26th September 2017

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