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The Tax Publishers Circular No. SEBI/HO/MIRSD/DOP/P/CIR/2022/101, dt. 27-07-2022 Settlement of Running Account of Clients Funds lying with Trading Member (TM) SEBI, vide circular no. MIRSD/SE/Cir-19/2009 dt. 3-12-2009 and SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 dt. 26-9-2016, issued the guideline for settlement of running account of clients funds / securities. As specified by SEBI, the actual settlement of funds and securities shall be done by the member depending on the mandate of the client and there must be a gap of maximum 90 / 30 days (as per the choice of client viz. Quarterly / Monthly) between two settlements of running account. 2. Vide SEBI circular no. CIR/HO/MIRSD/DOP/CIR/P/2019/75 dt. 20-6-2019, settlement of running account for securities has been discontinued and therefore, SEBI circulars dt. 3-12-2009 and 26-9-2016, are now applicable for settlement of running account of clients funds only. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Circular No. SEBI/HO/MIRSD/DOP/P/CIR/2022/101, dt. 27-07-2022

Settlement of Running Account of Clients Funds lying with Trading Member (TM)

SEBI, vide circular no. MIRSD/SE/Cir-19/2009 dt. 3-12-2009 and SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 dt. 26-9-2016, issued the guideline for settlement of running account of clients funds / securities. As specified by SEBI, the actual settlement of funds and securities shall be done by the member depending on the mandate of the client and there must be a gap of maximum 90 / 30 days (as per the choice of client viz. Quarterly / Monthly) between two settlements of running account.

2. Vide SEBI circular no. CIR/HO/MIRSD/DOP/CIR/P/2019/75 dt. 20-6-2019, settlement of running account for securities has been discontinued and therefore, SEBI circulars dt. 3-12-2009 and 26-9-2016, are now applicable for settlement of running account of clients funds only.