To All Members,
This is with reference to the SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/42 dated March 27, 2023, Exchange notice no. 20230328-8 dated March 28, 2023 and 20230516-37 dated May 16, 2023 and 20230622-29 dated June 22, 2023, wherein it has been stated that the provisions mentioned at para 7 of SEBI circular dated July 23, 2021 read with para 3 (a) of SEBI circular dated February 24, 2022 with regard to freezing of accounts shall come into force with effect from September 30, 2023.
Further, as specified in the above referred circular the Trading Members are required to encourage their clients to update ‘choice of nomination’ by sending a communication on fortnightly basis by way of emails and SMS to all such UCCs / Demat accounts wherein the ‘choice of nomination’ is not captured. The communication shall provide guidance through which the client can provide his/her ‘choice of nomination’.
Where the trading members interact with their clients through call & trade, they shall encourage the clients to provide ‘choice of nomination’ in their trading and demat accounts at the earliest in terms of SEBI’s master circular dated May 17, 2023.
Trading Members are requested to ensure that the choice of Nomination is updated for all their clients and the same has been updated in the UCC database of the Exchange on or before September 30, 2023, failing which such clients shall not be permitted to trade on the Exchange.
Trading Members are advised to take note and comply with the above guidelines.
In case of any clarifications, members may contact us on details given as under:
For and on behalf of BSE Ltd.
Hiteshkumar Desai Jyoti Thukral
General Manager Senior Manager
Brokers’ Supervision Brokers’ Supervision
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