The NSE said that in the recent past, the exchange has observed instances of misuse of client funds during its inspections as well as in the alerts generated under offsite supervision.
From May 01, 2023, no new bank guarantee will be created out of clients’ funds by stock brokers or clearing members, says SEBI
The market regulator says the move will help investors protect money against any misuse and default by stock brokers.
The investor risk reduction access platform is expected to be available from the third quarter of FY24.
SEBI says the credit of securities will not be allowed in any demat account left untagged from July 01, 2022, onwards.
