{"id":207247,"date":"2022-09-23T19:40:05","date_gmt":"2022-09-23T14:10:05","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=207247"},"modified":"2022-09-23T19:40:05","modified_gmt":"2022-09-23T14:10:05","slug":"new-account-settlement-system-from-october-1-what-changes","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/new-account-settlement-system-from-october-1-what-changes\/","title":{"rendered":"New account settlement system from October 1: what changes"},"content":{"rendered":"\n

Source: <\/b>The post is based on the article<\/span> \u201cNew account settlement system from October 1: what changes\u201d <\/b>published in<\/span> Indian Express <\/b>on 23rd September 2022<\/b><\/p>\n

What is the News?<\/b><\/h5>\n

From October 1, 2022, the new account settlement system for the stock broking industry will kick in under the new guidelines issued by the Securities and Exchange Board of India (SEBI).<\/span><\/p>\n

What is Settlement of Accounts?<\/b><\/h5>\n

The SEBI mandates stockbrokers to settle i.e., transfer the available credit balance from trading account to bank account, at least once in a quarter (90 days) or 30 days.<\/span><\/p>\n

The process of transferring the unutilised funds back into the bank account is called \u2018Running Account Settlement\u2019 or \u2018Quarterly Settlement of Funds\u2019.<\/span><\/p>\n

The funds are transferred back to the primary bank account of the customer that is linked to the trading account.<\/span><\/p>\n

What are SEBI\u2019s new settlement guidelines?<\/b><\/h5>\n

SEBI has issued new guidelines on running accounts of client funds and securities lying with the broker.<\/span><\/p>\n

As per the guidelines, the settlement of running accounts of clients funds will be done by the trading members after considering the end of the day (EOD) obligation of funds.<\/span><\/p>\n

In cases where the client has opted for a monthly settlement process, then the running account shall be settled on the first Friday of every month.<\/span><\/p>\n

HoNew account settlement system from October 1: what changesill these guidelines impact investors and traders?<\/b><\/h5>\n

Changes in settlement brought in by SEBI over the last few years have had the aim of protecting the investor and preventing the misuse of money lying in trading accounts of investors for long periods. Hence, SEBI\u2019s move will give certainty to investors and trading members.<\/span><\/p>\n

It will also help brokers develop a system just like banks that credit interest in the accounts of their customers at the end of the quarter.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article \u201cNew account settlement system from October 1: what changes\u201d published in Indian Express on 23rd September 2022 What is the News? From October 1, 2022, the new account settlement system for the stock broking industry will kick in under the new guidelines issued by the Securities and… Continue reading New account settlement system from October 1: what changes<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10500],"class_list":["post-207247","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704752232},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/207247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=207247"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/207247\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=207247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=207247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=207247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}