Effect of SEBI's new rules for Coin app

Zerodha Coin - Direct MF
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Will this new SEBI rule effect users using the COIN app? Will there be any effect on the AMC sip?

Link to the article

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Thanks for bringing in this question. Even i am eager to know answer for this

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There will be a change for sure I guess. Till now, we receive this cash/ money (redeemed) not directly into bank account. It was credited to trading acc by the counter party. Zerodha is also doing the same. There is a counter party risk.
Probably after this there will be a change in mechanism.
( Correct me if I’m wrong, I might be wrong…idk).

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@Bhuvan can you.

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@faisr can you answer this

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We’ll post an update soon.

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SEBI is moving some good thing now a days to protect the retail customer ,
I send a email to SEBI ,happily i received a reply first time from SEBI , what i request in email means

Dear SEBI ,
please keep one Demat account to one PAN , and allow merge and demerge with any broker where ever we like to trade , if i want to trade with other broker i will clear all dues , i will demerge with current broker, and i can freely merge with other broker to trade ,

in this one the pan holder doesn’t want to hold different demat account , and if i am holding lot of securities its big headache to transfer one demat to another , please consider our request

Thanks
Riyas

SEBI replied we will consider the same

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Its almost been a week and we have not got any update

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@Bhuvan is there any update on this yet?

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We’re writing a piece on this. Give us a little more time.

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Yea sure. Waiting!

Please do link it once done!

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Dear @ShubhS9 @Bhuvan @Esha

Since you mentioned that an article is underway on this new SEBI guidelines disabling pooling of money and mutual fund units by online brokers and platforms w.e.f April 1, 2022, may I request you all to cover the following related topics as well:-

  1. Once the new SEBI guidelines come into effect, will the Coin cut-off time also change to 3 pm (instead of currently 1:30 pm) to place a buy and sell order of mutual funds.
    Zerodha Support Ticket No 20200921976293.

  2. Will the new guidelines mean Coin has to process orders in real-time?
    As the new SEBI guidelines ask brokers and online platforms to directly debit money from the investor’s bank account and credit it straight to the AMC account without holding the money in between, does it mean that the same-day NAV can be achieved even if an investor initiates a transaction at 2:59 pm?
    Zerodha Support Ticket No 20210419962395.

I would request you to please throw light on how the new SEBI guidelines would impact the above points for clarity.
Thanks,

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Still figuring out things, too early to say anything. We’ll post an update when we have more clarity.

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ok, much before the SEBI guidelines were issued citing a deadline, @nithin had mentioned the same in a post in Feb 2020.

Taking a cue from there, and drawing parallels with the released guidelines, I am guessing that the upcoming changes would iron out much-awaited order placement cut-off timing disparity, and real-time order placement; the two big issues with Coin.

Keeping fingers crossed for 1 April 2022!

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Thanks to SEBI for the above new guidelines which I hope becomes the rule, then Zerodha will have to change their archaic processes which they are so reluctant to change in client’s favour.

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We’ll keep you posted here.

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Here you go.