The Hindu Business Line : SEBI extends deadline for unique ID number

THE Securities and Exchanges Board of India has extended the deadline for market participants to obtain the unique identification number till June 30. Brokers and other market intermediaries have three more months to comply with the requirement.

The extension has also been granted to market participants and investors who want to avail themselves of the margin trading and securities lending and borrowing facilities. The circular further clarified that the "maximum allowable exposure" of the broker towards the margin trading facility shall be within self imposed prudential limits and not exceed the borrowed funds and 50 per cent of his "net worth".

The brokers have also been instructed to be prudent and ensure that there is no concentration on any single client, in the case of margin lending. In any case, the exposure to any single client at any point of time should not exceed 10 per cent of the broker's lendable resource, stated the circular.

More Stories on : Regulatory Bodies & Rulings

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Reliance MF launches power sector fund

Sundaram Mutual beefs up sales team

Bulls regain

Markets end fiscal 2003-04 on positive note; Sensex gains 70

MFs act boosts indices

Bharti Tele in tune with market perception

Rajasthan Bank: Some say it's hot, some not

ACC: Outlook positive, buy April futures

SEBI to probe ONGC share allotment issue: Shourie

SEBI extends deadline for unique ID number

Weak dollar turns tech stocks weaker

ONGC share allotment likely to be completed today