Now, get your trading details directly from stock exchanges
Published on Sat, Sep 26, 2009 at 11:00 , Updated at Tue, Sep 29, 2009 at 21:53
Source : CNBC-TV18
Online Currency Market
Market regulator Securities and Exchange Board of India (SEBI) has
decided to crack the whip on brokerages on rising investor complaints. It has
asked stock exchanges to generate transaction details of investors and send it
to them directly to validate whether transactions have indeed taken place.
CNBC-TV18's Priyal Guliani reports.
Stock exchanges will have to come in direct touch with investors to
safeguard their interests. SEBI has pushed stock exchanges to send transaction
details directly to investors on a regular basis. This would ensure that
exchanges get an immediate response from investors if transactions entered into
by them do not tally with the statement issued by the broker.
There have been rampant investors complaints in the past with regard to
misuse of the power of attorney, where in some intermediaries have allegedly
taken liberty of transacting from their clients account without their knowledge.
Sources tell CNBC-TV18 that National Stock Exchange (NSE) will be sending
out its first lot of the mailers on September 25. The Bombay Stock Exchange
(BSE) is expected to follow suit in the next few days.
<<SEBI_latest_90.jpg>>
