SEBI clarifies on Guidelines pertaining to Execution of DDPI – Sebi widened the scope of the Demat Debit and Pledge Instruction (DDPI) for pledging and repledging of securities for margin purposes in order to restrain the misuse of Power of Attorney (PoA) given by clients to stock brokers.
- Under DDPI, Mutual fund transactions executed on stock exchange order entry platforms and tendering of shares in open offers through stock exchange platforms will be covered.
- The DDPI acts for the same purpose as PoA and significantly mitigates the misuse of PoA.
- The Guidelines pertaining to the Execution of DDPI will be effective from November 18 and also come against the backdrop of instances of misuse of PoAs.
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