Monday September 30 2013
News Source: Global Exchanges
Focus: Brokers
Type: General
Country: India
Link: http://www.sebi.gov.in/cms/sebi_data/attachdocs/1380282501004.pdf
The Securities and Exchange Board of India (SEBI) has published the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2013 in a move to streamline its norms for stock brokers including for their registration and payment of fees.
Under the Regulations, no person shall act as a stock broker, unless he seeks a certificate of registration from the Board for each stock exchange in which he seeks to operate. However, no separate registration would be required for a clearing member registered with SEBI to operate as a stock broker in the stock exchange which has promoted the clearing corporation of which he is a clearing member. SEBI further stated that approval for operating in segments of a stock exchange would be granted by the concerned bourse.
SEBI has also revised the fee structure for stock brokers and clearing members for different segments. Further charges may be specified by the regulator from time to time.
Click on the above link for more details.