Sebi to finalise guidelines for PoA

 
Secondary Market Advisory Committee (SMAC)  has discussed the proposed guidelines and the same has been finalised as per the discussion between the representatives of stock exchanges , brokers and investors associations. A specific PoA should be executed in favour of a stock broker to facilitate transfer of securities held in the accounts of clients for stock exchange related margin and delivery obligations arising out of trades executed by the client on the bourse through the same stock broker.

PoA was also meant for transfer of funds from the account of the clients for the limited purpose of meeting the settlement obligations in connection with the trades executed by the clients via the same stock broker.