Rationalization of process relating to surrender of registration by sub-brokers

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..... , 2004 regarding, inter-alia, surrender of certificate of registration of sub-brokers. 2. Considering the present role of sub-broker where he is not permitted to deal with funds and securities of the investors, in consultation with the major stock exchanges and stock brokers' associations, it has been decided to rationalize the procedure for surrender of sub-broker registration, as follows. (i) .....

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..... clients of the sub broker individually about the surrender of sub brokership and also the fact of approval as AP. (iii) The affiliating stock broker and/or stock exchange shall publish the details of sub-brokers whose registration has been surrendered or their new status as AP, as the case may be on their respective websites for the information of the investors. 3. The aforesaid SEBI circular .....

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