SEBI plans new rules for brokers handling unpaid securities
Business
SEBI is planning some big updates for how brokers deal with securities that haven't been fully paid for.
The goal? Make the market run smoother and help people get their money or shares faster when payments are late.
Brokers may shorten payment deadlines
Brokers may soon set shorter payment deadlines instead of waiting five trading days, and if you clear your dues before 5pm your pledged securities get released the same day (otherwise, by the next trading day).
There'll also be daily checks so if you've paid part of what you owe or have extra collateral, you can get some of your securities back sooner.
Plus, in special cases like trading suspensions, extensions are possible but have tighter rules to keep things moving efficiently.