Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: form 3cd :: TDS :: due date for vat payment :: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT RATES :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: VAT Audit
 
 
« News Headlines »
 A tax saver scheme with higher returns
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know

Sebi sets new client-broker guidelines
December, 05th 2009

In a move to bring greater transparency and discipline among market participants, the Securities and Exchange Board of India (Sebi) on Thursday put out mandatory requirements related to dealings between investors and stock brokers (including trading members). The move gives brokers the right to take actions against clients. The deadline for implementing the norms is March 31, 2010.

Sebi said stock brokers should register clients by entering into an agreement with them that must contain documentary evidence of financial details of the investors. The mandatory documents include a member-client agreement or a tripartite agreement in case a sub-broker is associated, a know-your-client form, and a risk disclosure document.

The broker shall have documentary evidence of financial details provided by clients who opt to deal in the derivatives segment. In respect of other clients, the stock broker shall obtain the documents in accordance with its risk management system, said Sebi.

In addition to this, Sebi said the broker should capture details of action taken against clients by the market regulator or other authorities during the last three years.

Amit Majumdar, executive director and chief strategy officer at Angel Broking, said, From brokers perspective, it is a welcome move as it gives them a legal stand against clients, besides power to demand information and de-register them.

The note said there should be mandatory documents for refusal of orders for trading in penny stocks and clients exposure limits. More importantly, the note gives brokers the right to sell clients securities or close positions on account of non-payment of dues without notice. However, this will be limited to the extent of the settlement and margin obligation. This is a welcome move which gives legal validity to squaring off of a clients position without notice, said Majumdar.

On running account authorisation, Sebi said a client might specifically authorise the broker to maintain a running account. However, this will be subject to the condition that the authorisation is renewed at least once a year. Further, settlement of funds and securities in running accounts should be done at least once in a quarter or month, depending on the preference of the client. Brokers said putting this into practice would be difficult. However, these conditions will not apply to institutional clients who settle trades through custodians.

The regulator said brokers should transfer funds and securities lying in the credit of the client within one working day of the request if these were lying with him and within three working days in case these were with clearing members or corporations.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions