SEBI mandates depositories to validate transfer instructions before executing actual transfer of securities
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- Last Updated on 21 September, 2022
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Circular No. SEBI/HO/MIRSD/DoP/P/CIR/2022/119 Dated 19-09-2022
In order to further mitigate the risk for clients’ securities SEBI mandates that prior to executing actual transfer of the securities for Pay-In from client Demat account to TM Pool account the depository shall validate the transfer instruction received. The SEBI further clarified that early pay-In transactions, the existing facility of the block mechanism shall continue. SEBI has prescribed the detailed procedure to be put in place by the depositories to validate the Pay-In Instructions.
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