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Informist, Monday, Mar. 23, 2026

NEW DELHI – The Securities and Exchange Board of India has relaxed select reporting requirements for certain stockbrokers by eliminating the need to report demat accounts, according to its circular on Monday. SEBI currently mandates the appropriate tagging of all demat accounts maintained by stockbrokers. However, these provisions will not apply to stock brokers who are also primary dealers and use their demat accounts exclusively for activities other than stock broking.

 

Currently, brokers are mandated to inform the stock exchanges of their existing and new bank and demat accounts. SEBI, in its circular, said that the depositories must instead provide the details of all demat accounts opened or closed by a stockbroker to the concerned stock exchanges. "The periodicity and mechanism of sharing the said details shall be jointly determined by stock exchanges and depositories," SEBI said.

 

"Representation has been received from exchanges to relax the reporting requirement of demat account for brokers and to align the reporting framework of brokers, which are primary dealers, with the exemptions provided to brokers, which are banks," the regulator said. These changes will come into effect from Apr. 17.  End

 

Reported by Anand JC

Edited by Saji George Titus

 

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