The Bombay Stock Exchange (BSE) on January 01, 2024, issued a circular regarding the settlement of the Running Account of the Client’s Funds lying with the Trading Member.
The following has been stated: -
•This is with reference to SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2023/197 dated December 28, 2023 (Exchange Notice no. 20231228-63 dated December 28, 2023), on ‘Settlement of Running account of client’s funds lying with the Trading member (TM)’, wherein point no. 4 it was stated as under:
“The provisions of this circular shall be applicable with effect from the quarterly settlement of Jan-Mar 2024 and monthly settlement of January 2024”
•As Members have been seeking clarity with respect to the above applicability provision, it is hereby clarified under consultation with SEBI that the above provision of the SEBI circular shall be applicable from the quarterly & monthly settlement date of January 05 & 06, 2024 (i.e. first Friday & Saturday of the Quarter Jan-March 2024 & first Friday & Saturday of the month January 2024) & onwards.
The detailed circular is given in the document attached below.
[Notice No. 20240101-20]
