Capital market regulator Sebi has asked stock brokers to use their websites to inform clients on updation of email addresses and mobile numbers.
Brokers have been asked to display the message: “Prevent Unauthorized transactions in your account –> Update your mobile numbers/email IDs with your stock brokers. Such a message would have to remain “on the website of the members, on permanent basis, at the prominent place”.
With an aim to reduce the number of investor complaints relating to unauthorized trading and to safeguard members’ own interest, stock exchanges provide details of the transactions to all investors through mails and SMSes whose email address and mobile numbers are updated by the trading members in UCC (Unique Client Code) online.
