Neha Nagar Instagram – SEBI has a new rule for stockbrokers!
Have you ever checked your demat account statement and found that money has been deducted without your permission?
This is a common problem caused by technical glitches.
In the past, stock brokers would often use this as an excuse to avoid taking responsibility for the losses. They would claim that there was a clause in the demat account opening form that absolved them of liability for technical glitches.
This is no longer the case. SEBI will now introduce a new rule that requires stock brokers to explain the most important terms and conditions to their clients in plain English.
This is a big win for investors, as it means they’ll be better informed about their investments and less likely to be taken advantage of by stock brokers.
The new rule goes into effect on April 1, 2024, for new clients and on June 1, 2024, for existing clients.
3 Hacks to Avoid Losing Money from Technical Glitches in the Demat Account:
1.Set up alerts and notifications: Enable alerts for order confirmations, price movements, and margin utilisation. Get notified of any suspicious activity or potential glitches in your account.
2.Regularly review your Demat account statements: Review your statements regularly to identify discrepancies or unauthorised transactions. Detect technical glitches early on and take corrective action.
3.Maintain a minimum cash balance in your demat account and only deposit funds when you intend to purchase stocks.
Share this reel with your friend for more awareness. | Posted on 27/Nov/2023 12:23:33
