SEBI Puts In Place Framework For Upstreaming Of Clients’ Funds By Brokers To Clearing Corps
To safeguard clients’ funds, capital markets regulator SEBI on Thursday came out with a framework that requires the upstreaming of all client funds received by stock brokers to clearing corporations.
Under the framework, no clients’ funds will be retained by stock brokers on an end-of-day basis. Further, clients’ funds will