Every Trading Member is required to send a complete 'Statement of Accounts', for both funds and securities, in respect of each of its clients, in such periodicity not exceeding three months, within a month of the expiry of the said period. The Statement shall also state that the client shall report errors, if any, in the Statement within 30 days of receipt thereof to the Trading Member.

This comes into force with effect from May 22, 2002.

In respect of Financial Year 2001-2002, trading members are required to send the Statement of Accounts for the year to their clients latest by June 30, 2002.

Trading members are requested to take note of the above and comply with the same. Clients are also advised to ensure that they receive Statement of Accounts from their trading members.