Dear Sirs,
Subject: Simplification and Rationalization of Trading Account Opening Process.
1. SEBI has been getting feedback from the investors that the present trading account opening procedure is very cumbersome. The investor has to enter into a number of agreements depending on his trading preferences i.e. stock exchanges, segments, internet / wireless technology based trading, etc. As a result, it requires a large number of signatures on various documents devised by the stock brokers/trading members.
SEBI has commenced processing of investor complaints in a centralized web based complaints redress system ‘SCORES’. The salient features of this system are:
Centralized database of all complaints.
Online movement of complaints to the concerned intermediaries
At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities o
The appellant has been found guilty of self trade as well. Self trades admittedly are illegal. This Tribunal has held in several cases that self trades call for
We may however clarify that public interest litigation affecting the administration of justice, at the instance of the Advocates practicing in the court/fora an