New Delhi, April 24 -- To protect investors' funds, capital markets regulator SEBI (Securities Exchange Board of India) has released a circular dated Dec 12, 2023 to ensure upstreaming of clients' funds. The circular has specified the framework requiring stock brokers or clearing members to place all the clients' clear credit balances to clearing corporations on end of day basis.

To make the upstreaming of clients' funds in the form of pledge of units of mutual fund overnight schemes, a working group of industry participants recommended a change in the cut-off timings to calculate the applicable net asset value with respect to repurchase of units in overnight fund schemes.

These are the changes which will come into effect from June 1, 2...