Rogue day traders return in droves as mkt consolidates

Jigar Pathak
Posted: Monday, Sep 08, 2008 at 2305 hrs IST
Updated: Monday, Sep 08, 2008 at 2305 hrs IST

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Mumbai, Sep 7: been put in place by the exchanges and markets regulator to take care of the default risk, it is impossible to totally get rid of all the risk in totality, reckon brokers.

In April Securities & Exchange Board of India (Sebi) had proposed to strengthen the KYC norms. Though not implemented, the policy says that the exposure limit, set by the broker for their clients, should be commensurate with the financial details reported by the client KYC documentation.

The said limit must be specified in the KYC and strictly adhered to or the details in the KYC must be suitably modified. It further adds that only persons with a financial standing comparable to that of the client should be accepted as the introducer....

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