SEBI – Refund of Security Deposit by Trading Members: Key Highlights
Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/MIRSD/FCR/CIR/P/2021/01 issued and publishes dated 06th January, 2021, has published “Refund of Security Deposit” Section 11 (1) of the Securities and Exchange Board of India Act, 1992 read with Section 10 of the Securities Contract (Regulation) Act, 1956.
The Circular is issued to :
• The Managing Director/Executive Director,
• All Stock Exchanges
Aim and vision of this circular:
– to protect the interests of investors in securities, to promote the development of, and to regulate the securities market
This is with reference to the letter MRD/DSA/OW/14347/4/2019 dated June 10, 2019 issued to NSE regarding refund of security deposit and arbitration mechanism after the surrender of membership of Trading Members.