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PSX issues bulletin: Investors entitled to profit on unutilized funds with brokers

Re-composition: SHEL
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June 07, 2024 (MLN): The Pakistan Stock Exchange Limited (PSX) is issuing this Investor Bulletin to enlighten the investors about their right to receive profit on their unutilized funds maintained with Securities Brokers for the purpose of trading or subscription of securities if such funds are kept in a profit-bearing bank account. 

Securities brokers are required to maintain a clear segregation of their client's assets from their own, the local bourse highlighted in a notice issued today.

To ensure this, the securities brokers are required to maintain separate bank account(s) for keeping the funds of customers.

Securities brokers are required to pass on profit, credited by the bank on these funds, to the respective customers in proportion to their unutilized balances.

Any customer who does not wish to receive the profit must specify the same in writing to the securities broker.

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Posted on: 2024-06-07T17:08:39+05:00