Settlement of Running Account of Client’s Funds lying with Trading Member (TM)

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..... circular no. MIRSD/SE/Cir-19/2009 dated December 03, 2009 and SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 dated September 26, 2016 , issued the guideline for settlement of running account of client s funds / securities. As specified by SEBI, the actual settlement of funds and securities shall be done by the member depending on the mandate of the client and there must be a gap of maximum 90 / 30 days (as .....

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..... settlement of running account, following has been decided: 4.1. The settlement of running account of funds of the client shall be done by the TM after considering the End of the day (EOD) obligation of funds as on the date of settlement across all the Exchanges on first Friday of the Quarter (i.e., Apr-Jun, Jul-Sep, Oct-Dec, Jan Mar) for all the clients i.e., the running account of funds shall .....

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..... to the relevant Bye-laws, Rules and Regulations ,as may be necessary; 6.3. issue operational guidelines to their members in this regard; 6.4. continue online monitoring of timely settlement of running account for funds of client and to verify that excess clients funds are not retained by the TM as on the date of settlement of running account; 6.5. put in place an appropriate reporting r .....

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