Disclosure of proprietary trading by broker to client

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... roker to client 1. With a view to increase the transparency in the dealings between the broker and the client, it has been decided that every broker shall disclose to his client whether he does client based business or proprietary trading as well. 2.1 The broker shall disclose the aforesaid information to his existing clients within a period of one month from the date of this circular. 2.2 Furt .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... in Section II, item no. 13 of the Monthly Development Report for the month of November 2003. 4. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, V S SUNDARESAN

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X