Brokers

The majority of incremental customer acquisition is now happening from tier-2 cities

Additional responsibilities are in areas of financial stability, audit, related-party transaction, cyber security, risk management; enhanced monitoring of these QSBs to start on July 1

With an aim to bring in transparency, capital markets regulator Sebi on Thursday mandated all stock brokers and depositories to maintain websites. A designated website brings in transparency and helps the investors to keep themselves well informed about the various activities of the Stock broker (SB) and Depository participant (DP). In view of the same, considering the advancement in technology and need to provide better services to the investors, all SBs and DPs have been mandated to maintain a designated website, Sebi said in a circular. Such website would mandatorily display information such as basic details of the SB/DP such as registration number, registered address of head office and branches and names and contact details such as E-mail IDs etc of all key managerial personnel, including compliance officer. In addition, such website is required to display step-by-step procedures for opening an account, filing a complaint on a designated E-mail ID, and finding out the status of

In a new paper, Sebi has proposed the daily transfer of client funds to clearing corporations

Platform reliability, time to meet margin calls are other key criteria for traders while selecting a broker

They are staring at a 15-20% drop in the revenues they make from interest on the surplus funds clients park with them. Something similar had played out when ASBA was launched for IPOs

The scheme ends on January 19, 2023; terms and conditions will be made available on date of commencement

According to the new mandate, stock market brokers are required to transfer unused funds back to the client's account at least once each quarter

However, industry experts feel that with tighter rules, brokerages will need to have higher working capital and will involve operational risk of transferring large amounts

Sebi's planned move could upend Rs 30,000-crore broking industry

Credit of securities will not be allowed in any demat account left untagged from July 1 onwards. However, credits on account of corporate actions will be permitted, the Sebi said in a circular.

Stick to RERA-registered brokers, preferably the tech-savvy kind, and look for deep knowledge of the micro-market you are interested in

The Central Bureau of Investigation (CBI) has recovered incriminating documents, digital devices and other crucial evidences during raids conducted at 10 places belonging to different brokers in connection with the co-location scam involving Chitra Ramkrishna, former MD & CEO of National Stock Exchange (NSE), and Anand Subramanian, the ex-Group Operating Officer of NSE.

Broker's lobby had requested a change in the procedure for upfront collection of peak margins from clients in both cash and derivatives segment

Sebi further defers new margin rule to May 2

Morgan Stanley has started coverage on the digital payments startup with an overweight rating and a price target of 1,875 rupees, which implies 43% upside from Tuesday's close

At present, the Securities and Exchange Board of India Act, 1992 does not prescribe any period of limitation for issuance of a show-cause notice (SCN) or for completion of the adjudication proceeding

Classifying all API orders as algo could stifle innovation: Industry players

Market players said issue was with CDSL's portal used for authorising debit of securities from demat accounts. The system was set up last year to prevent misuse of power of attorney by brokers