BSE asks brokers to submit info on client funds by Aug 1
The stock brokers were required to submit data about their respective clients funds on a weekly basis. However, earlier this month the BSE decided that such information would be required to be uploaded every month till March 2018.
The BSE has asked stock brokers to submit details on clients' funds available with them as on July 31 on the top exchange's electronic filing system, by Tuesday.
The stock brokers were required to submit data about their respective clients' funds on a weekly basis. However, earlier this month the BSE decided that such information would be required to be uploaded every month till March 2018.
Accordingly, the BSE in a recent circular said, "Stock brokers are requested to upload the data as on July 31, 2017 by August 1, 2017."
The brokers are required to submit the data on clients' funds lying with them, on the last trading day of every month on or before the next trading day.
Reporting on clients' funds is applicable to all stock brokers, except those who are carrying out only proprietary trading and/or only trading for institutional clients.
Further, the brokers carrying out only proprietary trading and/or only trading for institutional clients are required to give a one-time declaration through the system.
"However, they have to submit the data...As and when they execute trades for their non-institutional clients," the exchange said.
The BSE also said that brokers servicing both institutional and non-institutional clients are required to submit the data for all clients who are trading through them and have fund balances lying with them.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.