The National Stock Exchange (NSE) on December 19, 2024, issued the notification regarding the Maintenance of evidence of requests for pay-out received from the clients.
The following has been stated namely: -
• Trading Members were directed not to make part/periodic payments to the clients, that are not commensurate with the running account settlement guidelines. However, if the client specifically requests for a pay-out, the same shall be done and the evidence of such requests received from clients shall be maintained by the member.
• It was further advised that for each such payout to the credit balance clients, a separate request received from clients, which could be, inter alia, in the form of writing, telephone recording, email from registered mail id, record of messages through registered mobile phones, log for internet requests shall be maintained by the members.
• It is reiterated that the Trading Members shall obtain and maintain evidence with respect to all the requests for pay-out received from their clients.
[Notification No. NSE/INSP/65698]
