Sebi market rules update Timeline for direct transfer from share clearing to client account extended rules to be applicable from November 11 not October 14 stock news

Market regulator Securities and Exchange Board of India (SEBI) connected Thursday extended an earlier deadline to instrumentality a strategy mandating the nonstop payout of securities to clients' demat accounts. This regularisation volition instrumentality effect from November 11 now, alternatively of the earlier deadline of October 14. Additionally, the timings of the receipt of shares successful lawsuit accounts volition besides beryllium changed nether the 'T+1' strategy of settlements.  Such shares volition beryllium credited to the accounts astatine 3:30 p.m. connected the aforesaid day, alternatively of the existing timing of 1:30 p.m. the adjacent time of settlement. 

"The last operational guidelines/implementation standards were to beryllium issued by CCs (clearing corporations) to the marketplace by August 05, 2024. However, the said guidelines were issued by CCs astatine the extremity of August 2024 connected relationship of extended consultation successful Brokers’ Industry Standards Forum (Brokers’ ISF)," work a SEBI circular dated October 10. 

SEBI besides stated that "based connected the reappraisal gathering held by SEBI with MIIs and based connected practice received from Brokers’ ISF, it has been decided that the circular shall travel into effect from November 11, 2024, successful bid to guarantee creaseless implementation of pay-out of securities straight to the client’s demat account, without immoderate disruption to the markets players and investors".

Under the caller direct-payout system, clearing corporations volition transportation securities consecutive to the accounts of investors. This is successful opposition to the existent system, wherever brokers clasp securities successful a excavation earlier sending them to clients. 

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