BSE asks brokers to submit bank, demat a/c details by Oct 26

17/10/2016 15:47

Putting in place enhanced supervision framework for stock brokers, leading stock exchange BSE has asked them to submit the details of all their existing bank and demat accounts in a specified format by October 26.

The move comes after markets regulator Sebi, last month, issued a detailed set of guidelines for monitoring of stock brokers’ financial strength as well as detecting any misutilisation of clients’ funds.

“Members are requested to submit the details of all their existing bank and demat accounts in the specified format latest by October 26, 2016,” BSE said in a circular.

Further, details about all new bank and demat accounts would be informed to the exchange within one week of the opening of the account, it added.

Besides, “a facility is being provided by the exchange whereby members can report details of their bank and demat accounts to the exchange, electronically,” the exchange added.

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