Implementation of circular on upstreaming of clients’ funds by Stock Brokers (SBs) / Clearing Members (CMs) to Clearing Corporations (CCs)

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..... h recognized Depositories Clearing Members through recognized Clearing Corporations Dear Sir/Madam, Subject: Implementation of circular on upstreaming of clients funds by Stock Brokers (SBs) / Clearing Members (CMs) to Clearing Corporations (CCs) 1. SEBI, vide circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/084 dated June 08, 2023 (herein after referred to as circular ), has .....

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..... basic requirement of upstreaming of clients funds to CCs, as stated in clause 1 above, the provisions of the circular stand modified as under: 2.1. Clause 3.C.V of the circular may be read as follows: SBs/CMs may receive funds from clients beyond the prescribed cutoff time for upstreaming subject to the condition that there shall not be any further movement of funds from that account (i. .....

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..... X, 3.C.XI shall come into effect from September 01, 2023. 3. Stock exchanges, Clearing Corporations and Depositories are directed to bring the provisions of this circular to the notice of their members/participants and also disseminate the same on their websites. 4. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Ac .....

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