Sebi frames norms on brokers

New Delhi: To promote ease of doing business (EoDB), capital markets regulator Sebi on Tuesday tweaked the framework requiring stock brokers or clearing members to upstream clients’ funds to clearing corporations.

This came after Sebi received representations from various stakeholders -- stock brokers, and brokers’ associations citing certain operational difficulties in implementation of the framework. Addressing the issue, Sebi said that stock brokers (SBs) or clearing members (CMs) will upstream all the clients’ clear credit balances to clearing corporations (CCs) on the End of Day (EOD) basis.