{"id":25971,"date":"2022-02-24T19:01:42","date_gmt":"2022-02-24T13:31:42","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-sebi-segregation-rules\/"},"modified":"2022-02-24T19:11:48","modified_gmt":"2022-02-24T13:41:48","slug":"biz-sebi-segregation-rules","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-sebi-segregation-rules\/","title":{"rendered":"Sebi gives more time to comply with rules on client-level segregation, monitoring of collaterals"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-355754928\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>       New Delhi, Feb 24 (PTI) Capital markets regulator Sebi on Thursday deferred implementation of the new regulations on client-level segregation and monitoring of collaterals till May 2.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1060551304\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> This is the second time the regulator has extended the deadline to comply with the rule. Initially, the regulator had given time till December 1, 2021, which was\u00a0extended to February 28, 2022.<\/p>\n<p> In a circular, Sebi said it has received requests from various stakeholders to further extend the timeline. After consideration of the same, it has been decided to further extend the deadline till May 2, 2022.<\/p>\n<p> Under the new framework, a Trading Member (TM) and Clearing Member (CM) have to report disaggregated information (segment-wise and asset type-wise break-up) of each client collateral.<\/p><div class=\"trade-content_5\" id=\"trade-2377524885\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Besides, clearing members will be required to maintain at least 50 per cent of the total collateral in the form of cash or cash equivalents with Clearing Corporations (CCs).<\/p>\n<p> At the individual client level, a client can have allocation of cash equivalent, less than the value of non-cash collateral provided by the client. The minimum 50 per cent cash equivalent collateral requirement will not be applied at the client level.<\/p>\n<p> Clearing members\u00a0guarantee trade settlement to stock exchanges on behalf of clients.<\/p>\n<p> For the purpose of monitoring of at least 50 per cent cash-equivalent collateral at the level of clearing member, the excess cash-equivalent collateral of a client will not be considered for other client or for proprietary account of trading or clearing member.<\/p>\n<p> In a separate statement,\u00a0K K Maheshwari, President of Association of National Exchange Members of India (Anmi), has welcomed Sebi&#8217;s\u00a0 announcement to extend the timelines for implementing segregation and monitoring of collateral at client level.<\/p>\n<p> &#8220;Sebi should consider granting waiver of penalties for three months thereafter to comply fully with the said circular as brokers need to educate their clients,&#8221; he added.<\/p><div class=\"trade-content-10\" id=\"trade-1264914362\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The new rules for segregating and monitoring is aimed at further strengthening the mechanism of protection of client collateral from misuse by trading member or clearing member and default of such members and other clients.<\/p>\n<p> The move came in the wake of Karvy Stock Broking crisis where clients&#8217; shares had been pledged illegally as collateral against loan.<\/p>\n<p> Segregation of client collateral refers to the procedures that enable identification and protection of client collateral from misuse by trading or clearing member and protection from default of such member or other clients.<\/p>\n<p> With a view to providing visibility of client-wise collateral (for each client) at all levels &#8212; trading member, clearing member, and clearing corporation &#8212; a reporting mechanism, covering both cash and non-cash collateral, will be specified by the clearing corporations.<\/p>\n<p> Under the framework, a TM would report disaggregated information on collaterals up to the level of its clients to the CM.<\/p>\n<p> Further, a CM would report disaggregated information on collaterals up to the level of clients of TM and proprietary collaterals of the TMs to the exchanges and clearing corporations.<\/p>\n<p> This information would be required to be reported on a daily basis. Besides, a web portal facility would be provided by the clearing corporations\/ exchanges to allow clients to view disaggregated collateral reporting by TM\/CM.<\/p>\n<p> On Wednesday, Anmi, on behalf of 900 stock brokers in the country, said it has written to Sebi on the practical difficulties in implementing segregation and monitoring of collateral at client level and\u00a0 asked the regulator for more time to comply with the guidelines.<\/p>\n<p> Among difficulties, Anmi said\u00a0web portal facility by the clearing corporation\/stock exchange, to allow clients to view disaggregated collateral reporting by TM\/CM, has not been provided. PTI SP  RAM<\/p>\n<div class=\"trade-after-content\" id=\"trade-3449528936\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Feb 24 (PTI) Capital markets regulator Sebi on Thursday deferred implementation of the new regulations on client-level segregation and monitoring of collaterals till May 2. This is the second time the regulator has extended the deadline to comply with the rule. Initially, the regulator had given time till December 1, 2021, which was\u00a0extended [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-25971","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sebi gives more time to comply with rules on client-level segregation, monitoring of collaterals - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-sebi-segregation-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sebi gives more time to comply with rules on client-level segregation, monitoring of collaterals\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Feb 24 (PTI) Capital markets regulator Sebi on Thursday deferred implementation of the new regulations on client-level segregation and monitoring of collaterals till May 2. 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