Learn about ESSENCE INVESTMENT financial products in one article
Question:Does ESSENCE INVESTMENT have one fixed custody account or multiple random accounts? Why are some custodial pooled accounts associated with small banks in small places?
Answer:The operating model of ESSENCE INVESTMENT (ESSENCE INVESTMENT & FINANCE LIMITED) demonstrates the diversity and complexity of custody pooled account management in the financial services industry. The company manages more than one custodial pooled account by partnering with a number of different banks, a practice that is not random but carefully designed in compliance with relevant Securities and Exchange Board of India (SEBI) regulations. SEBI regulations require that in order to protect the interests of investors, all securities brokerage companies must deposit client funds in fund custody bank acco...