Comment on POA - Power of Attorney for your Demat account

Nirav commented on 17 Dec 2014, 04:02 PM

Most of the times brokers say that POA is necessary for smooth operation and other blah blah. But that is not the case. I think SEBI should more strict with regards to this.

A client can online transfer shares from demat to pool and from pool broker can sell the shares.

Second method is to make client directly sell settle shares from demat. Its not that tough.

I have gone through Zerodha POA. I think it’s quite broad in terms of powers given. POA should be limited and specific.

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