The Board of the Securities and Exchange Board of India (SEBI) which met on Friday has simplified the process of registration requirements for brokers.
In a press release release the market regulator has stated, "Presently, to become a stock broker, it is required to get a separate certificate of registration from SEBI while operating in different segments of a stock exchange viz. equity, equity derivatives, currency derivatives and also for each category like trading member, trading cum self clearing member and a professional clearing member."
"With a view to simplifying and rationalizing the registration requirement, the Board decided to amend the regulations for stock brokers so that there may be one certificate of registration per stock exchange for a stock broker. For operating in other segments and in aforesaid different categories he would take approval from the stock exchange, subject to compliance of all regulatory requirements. The stock exchange shall keep SEBI informed about such approvals in periodical reports," the release adds.
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