Master Circular for Stock Brokers - SEBI - SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/71

MASTER CIRCULAR SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/71 May 17, 2023 To, All Recognized Stock Exchanges Stock Brokers through Recognized Stock Exchanges Madam/Sir, Subject: Master Circular for Stock Brokers I. Securities and Exchange Board of India (SEBI), from time to time, has been issuing various circulars/directions to Stock Brokers. In order to enable the users to have access to the provisions of the applicable circulars at one place, this Master Circular in respect of Stock Brokers has been prepared. II. SEBI s Master Circular for Stock Brokers dated June 01, 2018 was a compilation of relevant circulars issued by SEBI which were operational as on June 01, 2018. Subsequently, various guidelines/directions were issued to Stock Brokers by way of circulars/advisory. Further, some of the references to the Statutes/ Regulations in the Master Circular now stand repealed. III. In view of the same, the instant Master Circular has been prepared which supersedes the Master Circular for Stock Brokers dated June 01, 2018 and the subsequent circulars on the subject. With the issuance of this Master Circular, the directions/instructions contained in the circulars listed out in the Appendix to this Master Circular, to the extent they relate to the Stock Brokers, shall stand rescinded. IV. Notwithstanding such rescission, a) anything done or any action taken or purported to have been done or taken under the rescinded circulars, prior to such rescission, shall be deemed to have been done or taken under the corresponding provisions of this Master Circular; b) any application made to the Board under the rescinded circulars, prior to such rescission, and pending before it shall be deemed to have been made under the corresponding provisions of this Master Circular; c) the previous operation of the rescinded circulars or anything duly done or suffered thereunder, any right, privilege, obligation or liability acquired, accrued or incurred under the rescinded circulars, any penalty, incurred in respect of any violation committed against the rescinded circulars, or any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty as aforesaid, shall remain unaffected as if the rescinded circulars have never been rescinded; V. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992. VI. This circular is available on SEBI website at www.sebi.gov.in. Yours faithfully, Aradhana Verma General Manager Tel. No: 022 26449633 [email protected]