Online Conclave for GRC Members on March 03-04,2022

NISM in association with NSE, BSE and MSEI conducted an Online Conclaves for Members of Grievance Redressal Committee (GRC) of Equity Stock Exchanges. This Conclave was held during March 3-4, 2022.

Mr. Susanta Kumar Das, Programme Director & Faculty Member, NISM welcomed the speakers and the participants during the Conclave.

Mr. Sunil J Kadam, Registrar, NISM gave the opening remark in the Conclave. During the address, he spoke about the growth witnessed in the capital markets during the last few years. He also touched upon various reform measures viz. margin collection through pledge/ re-pledge mechanism, revamping of Risk-o-meter in mutual funds, etc. taken by SEBI during last few years.

Mr. Ansuman Dev Pradhan, DGM, SEBI discussed the various changes viz. upfront collection margins by Trading Member in the cash segment, segregation and monitoring of collaterals at client level, merits of T+1 settlement cycle, recent changes made with regard to IPF of stock exchanges, introduction of pledge / re-pledge mechanism for margin purposes, settlement of running account of client’s funds lying with TM, etc. by SEBI.

Mr. Narayan Venkat, Assistant Vice President, NSDL spoke about the innovative products and processes offered by depositories. He also discussed the various services depositories offer for the benefit of investors.

Mr. Hiteshkumar Desai, Additional General Manager, BSE spoke about various topics including mandatory UCC attributes, measures taken to prevent unauthorized trading by stock brokers, pledge/ re-pledge mechanism, segregation and monitoring of client collateral, etc. undertaken for the development of securities market, etc.

Mr. S.Manjesh Roy, General Manager, SEBI discussed the various investor education initiatives taken by SEBI during recent years. He also discussed about the website and the mobile app. provided by SEBI for the education of the investors.

Ms. Kamala Kantharaj, Group Governance and Compliance Head and Deputy Chief Operating Officer, Edelweiss Financial Services Limited spoke about transaction processes in Broking Firms. During the address, she touched upon various aspects such as margin collection and order placement, execution and settlement of transactions, etc.

Dr. Swapnil Bangali, Director, Maharashtra National Law University discussed the emerging challenges of electronic evidence in matters pertaining to disputes in securities market. During his address, he spoke about the kind of evidence that are admissible, importance of secondary evidences, contents of certificate to authenticate the digital evidences, etc.

Mr. Rakesh Tiwari and Mr. Ashutosh Aggarwal, Members of GRC shared their experiences while dealing in cases referred to GRC during their address.

The programme concluded with a vote of thanks by Susanta Kumar Das, Programme Director & Member of Faculty, NISM.