Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: empanelment :: ACCOUNTING STANDARDS :: due date for vat payment :: TDS :: cpt :: VAT RATES :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company
News Headlines »
 5 Tax tasks you should complete before March 31
 March 31 deadline nears: Check out these last-minute tax-saving investment options
 How to file income tax returns online without having Form 16 in 10 simple steps
 Deadline For Filing Income Tax Return (ITR) Is Just 11 Days Away: 10 Latest Details To Know
  10 incomes you need not pay any tax on
 How To File Income Tax Returns In Three Steps By March 31, 2018
 10 things about income tax every taxpayer should know
 What to do if your TDS is not deposited with the government
 What if you forget to verify your Income Tax return?
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018

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 2018 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