MCA
MCA has notified the much awaited IEPF forms, that is, Form IEPF – 1 (Statement of amounts credited to Investor Education and Protection Fund), Form IEPF – 2 (Statement of unclaimed or unpaid amounts), Form IEPF – 3 (Statement of shares and unclaimed or unpaid dividend not transferred to the Investor Education and Protection Fund), Form IEPF – 4 (Statement of shares transferred to the Investor Education and Protection Fund), Form IEPF – 5 (Application to the Authority for an order for payment of dividend etc. out of the Fund), Form IEPF – 6 (Statement of shares and unclaimed or unpaid amounts to be transferred to the Investor Education and Protection Fund); are likely to be available on the IEPF portal w.e.f 25th August, 2016. Stakeholders are requested to plan accordingly.
SEBI
SEBI vide Circular notified that trading members at commodity exchanges can modify client codes after the execution of the trade to rectify a genuine error that had occurred while entering a client code at the time. SEBI clarified that those errors can be modified, which occurred due to communication, or punching or typing such that the original client code and the modified client code are similar to each other. Further, shifting of trades to the ‘error account’ of broker would not be treated as modification of client code, provided trades in the account are subsequently liquidated in the market and not shifted to some other code. Also, brokers would have to disclose the codes of accounts, which are classified as ‘error accounts’ to the exchanges. Besides, each broker should have a well-documented error policy approved by the management of the broker. The commodity exchanges would have to periodically review the trades flowing to the error accounts of the brokers.
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