The National Stock Exchange (NSE) on January 20, 2024, issued the Operational guidelines and SOP on the Upstreaming of clients’ funds by Stock Brokers (SBs) /Clearing Members (CMs) to Clearing Corporations (CCs) with reference to SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/187 dated December 12, 2023.
In accordance with the aforesaid SEBI circular, Operational guidelines and SOP for monitoring the implementation of provisions of aforesaid circular (including determination of cut-off times) framed by Broker’s Industry Standards Forum (ISF) and relevant stakeholders in consultation with SEBI are attached as Annexure 1.
[Circular No: 10/2024]
