Solutions:- Mr. Mehta can look at implementing the below beyond what%u2019s has being suggested:- 1) Allow online transfer of money by EOD on T 1 day for client dealing through the Branch office/ Franchisees. 2) For online trading, Trustworthy Securities can tie-up with a bank/banks and client be given an account with this bank. The bank account would be debit/credit on any transaction. 3) Upfront Margins should be collected from clients on any %u201COpen Position%u201D at the end of trading day as per the bye laws of exchange. 4) Appraisal System for managers should be redesign:- a) It should be on the basis of Profit earned (profit should account for the interest payment on the defaulting client) b) Incentives for branches adhering to the Rules and Byelaws (for a short term). 5) Surprise and schedule auditing of the Branch office and franchisees 6) Role of %u201CRemisers%u201D:- a) They should be made aware of the company policy/byelaws and sign the same to abide by it. Incase of found guilty of violation can be penalized monetarily/suspension from trading with Trustworthy. On subsequent violation be levied heavy penalty or debarred from trading with trustworthy or legally prosecuted. b) They should be made aware of the implication/consequences of their action. c) They shouldn%u2019t be allowed to trade on behalf of their clients without acquiring permission d) Can%u2019t promise any fixed returns to client as this against the laws of SEBI. 7) Branch/franchisee manager warned against being liberal with %u201Cremisers%u201D. 8) Enhance the system to check if the cheque number enter is correct or not. 9) Train the staff on the use of system. 10) Top-10 defaulting Branch office/franchisee and client be kept under surveillance for three months.
