Members attention is drawn to Exchange Notice 20221228-55 dated December 28, 2022 regarding Reporting requirement on Settlement of Running Account of Clients’ Funds lying with members.
In order to monitor the compliance of timely settlement of running account of clients’ funds and facilitate verification of excess clients’ funds are not retained by the members as on the date of settlement of running account, Members were advised to report the summary of settlement of clients’ funds and UCC wise settlement details, to the Exchange within T+2 & T+10 trading days respectively from the date of settlement of client funds by members.
Based on representation from Brokers’ Industry Standards Forum and in consultation with SEBI, it has been decided to ease out compliance of members by discontinuing the reporting requirement of settlement summary data with immediate effect.
Members are advised to take note that the reporting requirement of UCC wise settlement data within T+10 Trading days from the date of settlement of clients' funds, shall continue to remain applicable.
All members are advised to take note of the same and comply.
In case of any clarifications, members may contact us on details given as under:
For and on behalf of BSE Ltd.
Kaustubh Mundada Kalpesh Ganger
Asst. Gen. Manager Manager
Inspection Inspection |