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The regulator said there is an urgent need to address the situation of having a facility for blocking of trading accounts as it is available for blocking of ATM cards and credit cards.
Sebi last month proposed a phased rollout of optional same-day settlement and sought views from the public before it finalised the rules. It believes same-day settlement could benefit retail investors as well as reduce margin requirements and default risks.
As per the current Listing Obligations and Disclosure Requirements (LODR) regulations, a director cannot be a member in more than 10 committees or act as chairperson of more than 5 committees across all listed entities. The Sebi panel has now recommended that the count of maximum membership and chairmanship may be limited to only listed companies, and the positions at unlisted public companies may be excluded.
Institutional investors wouldnt be allowed to do day trading, where in they square- off their transactions intra-day, Sebi said. The regulator said securities traded in the futures and options segment would be eligible for short selling. The list of eligible stocks would be revised from time to time.
Institutional investors will not be allowed to do day trading. This means all transactions would be grossed for institutional investors at the custodians level. The custodians, however, will continue to settle their deliveries on a net basis with the stock exchanges.