BSE gives brokers more time to submit banks, demat a/c details

NEW DELHI: Leading stock exchange BSE has extended the deadline for brokers to submit the details of all their existing banks and demat accounts in a specified format by one month to November 25.

The exchange had earlier asked its trading members to submit the documents by October 26.

However, based on representations by the trading members, the due date to upload existing banks and demat accounts is extended by one month to November 25, 2016, BSE said in a circular today.

Besides, the exchange has provided a facility whereby members can report details of their banks and demat accounts electronically.

Last month, Sebi had issued a detailed set of guidelines for the monitoring of stock brokers' financial strength as well as detecting any misutilisation of clients' funds.