SEBI's revised norms for pool accounts

SEBI has announced a revision in the norms for brokers' pool accounts with a view to completely phase out the balances in these accounts.

The new measures intend to ensure that settlement is made directly to the investors.

Following the meeting of the sub-group, it has been decided that from February 12, clearing members (CM) will be required to transfer the securities from their respective pool account to the respective beneficiary account of the client within 6 calendar days after pay-out instead of the existing period of 15 days. -- BL Research Bureau