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TMI BlogSingle registration for Stock Brokers & Clearing MembersX X X X Extracts X X X X X X X X Extracts X X X X ..... N/2014-15/15/1671 dated October 08, 2014 amending the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 (hereinafter referred to as Broker Regulations). As per the amendment, the existing requirement of obtaining registration as stock broker/ clearing member for each stock exchange/ clearing corporation has been done away with and instead a single registration with any stock exchange/ cleari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th SEBI as a stock broker with any stock exchange, then for operating on any other stock exchange(s) or any clearing corporation, the entity can directly apply for approval to the concerned stock exchange or clearing corporation, as per the procedure prescribed in the Broker Regulations for registration. The stock exchange/ clearing corporation shall report to SEBI about such grant of approval. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring member, as the case may be, after exercising due diligence and on being satisfied about the compliance of all relevant eligibility requirements, and shall also, interalia ensure: a. The applicant, its directors, proprietor, partners and associates satisfy the Fit and Proper Criteria as defined in the SEBI (Intermediaries) Regulations, 2008; b. The applicant has taken satisfactory correc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Clearing members as the case may be, and also disseminate the same on their websites; b. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision in co-ordination with one another; and c. communicate to SEBI, the status of the implementation of the provisions of this circular through Monthly Development Report of the following mont ..... X X X X Extracts X X X X X X X X Extracts X X X X
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