SEBI Circular on: 2022 06 20-SEBI/Naming-Tagging of demat accounts maintained by Stock Brokers

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Date	Issuer	Subject	Topic
20-06-2022	SEBI	2022 06 20-SEBI/Naming-Tagging of demat accounts maintained by Stock Brokers	Tagging of demat accounts
Highlights of SEBI Circular dated June 20, 2022 2022 06 20-SEBI/Naming-Tagging of demat accounts maintained by Stock Brokers SEBI ha directed that all demat accounts maintained by stock brokers should be appropriately tagged and has further prescribed that: ·        All demat accounts of stock brokers which are untagged need to be appropriately tagged by June 30, 2022. ·        Credit of securities shall not be allowed in any demat account left untagged from July 01, 2022 onwards. Credits on account of corporate actions shall be permitted. ·        Debit of securities shall also not be allowed in any demat account left untagged from August 01, 2022. ·        Stock Broker shall obtain permission from Stock Exchanges to allow tagging of such demat accounts from August 01, 2022 onwards. Stock Exchange shall grant such approval within two working days after imposing penalty as per their internal policy.   Further, this circular shall not be applicable for the demat accounts which are used exclusively for banking activities by stock brokers which are also banks.   It is may be noted that currently, the Stock Brokers are required to maintain demat accounts only under the following 5 categories: Sr# Demat Account Category Purpose of Demat Account 1. Proprietary Account Hold Own Securities 2. Pool Account Settlement Purpose 3. Client Unpaid Securities Account Hold Unpaid Securities of Clients 4. Client Securities Margin Pledge Account For Margin Obligations to be given by way of Pledge/Re-Pledge 5. Client Securities Under Margin Funding Account Hold Funded Securities in respect of Margin Funding.     SEBI Circular no. SEBI/HO/MIRSD/ MIRSD_DPIEA/P/CIR/2022/83 dated June 20, 2022 is enclosed herewith for your ready reference.   In case of any clarification or assistance required in implementation of this circular you may contact Vandana Vania– van...@secmark.in / 9223303460        Kaushik Jethwa – kau...@secmark.in / 9870210171

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