Brokers to face penalty for failing to collect margins upfront

Investors and traders will soon have to cough up the entire upfront margin money before they buy or short-sell shares. After a few postponements, the Securities and Exchange Board of India (Sebi) has decided to implement the new norms on upfront margins from August 1 as it looks to curb wild speculation in the market. If brokers do not collect the margins upfront, they will have to pay a penalty to the exchanges.Currently, the rule of