News From Press SEBI working on guidelines for managing unclaimed client funds. All you need to know

SEBI working on guidelines for managing unclaimed client funds. All you need to know

Source: Mint Genie Aug 10, 2023

The Securities and Exchange Board of India (SEBI) is set to introduce comprehensive protocols for managing unsettled funds belonging to clients that are held by stock brokers. The forthcoming regulations will mandate stock brokers to actively endeavour to locate the investors and promptly refund their funds. Should the investors remain untraceable, the undistributed funds will then be channelled into the investor protection funds of stock exchanges.

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