The National Stock Exchange of India (NSE) on December 19, 2023, issued the Guidelines for Stockbrokers/Trading Members for Payments including mandates in the name of Clearing Corporation on NSE MF platforms.
The following has been stated namely: -
• The operating guidelines had been finalized in the AMFI Committee appointed by SEBI
• It was specified that the Stockbroker/Trading Member should initiate any payment including mandates in the name of the Clearing Corporation thereby ensuring that the funds move from the investor account directly to the Clearing Corporation account.
• Additional guidelines for the Stockbrokers are provided in Annexure1.
• Any deviation in this regard would be tantamount to non-compliance at the end of the Stockbroker/Trading Member.
[Notification No. NSE/NMF/59813]
