SEBI said the proposed ASBA-like mechanism for secondary markets is designed to safeguard client assets from broker misuse and defaults.
January 21, 2023The implementation timeline for the new framework on client collateral segregation and monitoring has been extended to 2 May 2022.
March 7, 2022The case dates back to 2019, when the brokerage was found to have pledged client securities at banks to secure loans for use as working capital.
August 26, 2021The proposed framework seeks to protect clients’ collateral from being misused or misappropriated by trading or clearing members.
May 18, 2021From 1 June, collateral accepted by brokers for margin purposes must be held in a separate demat account created in the depository system, tagged as 'Client Securities Margin Pledge Account'.
February 28, 2020An online register will record brokers’ holdings of client securities, clubbing all such information collected by exchanges, depositories and clearing corporations for all types of trades.
February 17, 2020SEBI found that trading and clearing members used by mutual funds were diverting client funds and securities to meet their own or third-party margin or settlement obligations.
December 26, 2019BSE, NSE, MCX, MSEI suspend Karvy Stock Broking; NSDL returns to 90% of clients the securities that were illegally pledged at lenders by Karvy.
December 4, 2019