Selecting a broker

[fabregas]

I started a new topic to ask some questions on PoA (Power of Attorney) provided to brokers and alternatives to it.

Some questions on PoA in the light of Karvy fiasco

Just to give a background to those who are not aware of it, here is the chain of events (feel free to point out errors) Karvy provides broking & demat services Karvy illegally transferred shares of its clients to its own demat account (or maybe the common pool account) Karvy then pledged these shares to borrow from banks/NBFCs Karvy, apparently, also sold some of these shares and transferred the proceeds to its related businesses Some clients noticed this misuse of shares and complained to SEB…