The National Stock Exchange (“NSE”) and the Bombay Stock Exchange (“BSE”) have issued circular/s for trading members to frame policy in line with the framework which must be a part of their Risk Management Policy.
Key Highlights:
- The trading members must disclose the policy on their website alongwith process and mode through which the client can place the request to freeze / block & unfreeze / unblock the trading account along with the timelines that will be followed by the trading members.
- For the new clients onboarding after 1st July, 2024, the policy will form a part of account opening kit.
- For the existing clients, the policy framed must be communicated to the client by 1st July, 2024 through e-mail, or any suitable mechanism and in case the communication gets bounced then the same should be communicated through alternate channels.
Please refer to the hyperlink for a detailed read of the circulars.
Source: National Stock Exchange and Bombay Stock Exchange
