Sebi tweaks rules on handling of unpaid securities

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Under the revised framework, securities purchased by clients but not fully paid for will continue to be credited directly to their demat accounts. However, they will be automatically pledged in favour of a separate Client Unpaid Securities Pledgee Account (CUSPA) maintained by the trading member, eliminating the need for fresh pledge instructions from clients.
The changes align the framework with regulatory developments, including the mandatory direct credit of securities to investors' demat accounts, while addressing implementation issues raised by the broking industry. "Representations have been received from Brokers' Industry Standards Forum seeking revisions to these provisions to align them with the current regulatory and market environment and to address certain operational challenges faced during implementation," Sebi said.
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document fetched 2026-07-04 08:32