Investor Alert: Know this important BSE warning regarding your stock broker
Investors, are you aware of this important right given to you by the BSE. You should note that the securities provided by you towards margin are not permitted to be pledged by your Stock Broker for raising funds
Investors, are you aware of this important right given to you by the BSE. You should note that the securities provided by you towards margin are not permitted to be pledged by your Stock Broker for raising funds. In case, your broker has done this, you should immediately take action against the broker. You should immediately inform the exchange about this.
The BSE also advises investors not to keep funds and securities idle with the stock broker. It further says that the investors should regularly login into their account to verify balances and verify the demat statement received from depositories for correctness.
See the other important things to follow for avoiding problems:
1) Check messages sent by the exchanges on a monthly basis regarding funds and securities balances reported by the trading member and immediately raise a concern if you notice a discrepancy.
2) Always keep your contact details including mobile number, Email ID updated with the stock broker.
3)You may take up the matter with stock broker or exchange if you are not receiving the messages from the exchange/Depositories regularly.
4) If you observe any discrepancies in your account or settlements, immediately take up the same with your stock broker and if the Stock Broker does not respond, with the Exchange/Depositories.
5) Approach nearest Regional Investor Service Centre’s of BSE for lodging a complaint.
6) The Complaint against trading members of the exchange or applications for arbitration should be filed at the nearest Regional Investor Service Centre referred, within which the most recent address/registered office address of the constituent, as duly communicated in writing to the trading member in accordance with law, is located.
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7) The hearings shall be held in the concerned Regional Investor Service Centre in which the Applicant had duly filed the Complaints / Application for Arbitration.
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