9911796707
TMI BlogSecurities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2003X X X X Extracts X X X X X X X X Extracts X X X X ..... ub-Brokers) (Second Amendment) Regulations, 2003. (ii) They shall come into force on the date of their publication in the Official Gazette. 2. In Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992- (a) for regulation 23 the following shall be substituted, namely,- The Board shall after consideration of inspection or investigation report take such action as it may deem fit and appropriate including action under the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulation, 2002, Chapter VIA of the Act or section 24 of the Act. (b) for regulation 25, the following regulations shall be substituted, namely:- 25. Liabili ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ise. (vii) Charging of brokerage which is in excess of brokerage specified in the regulations or the bye laws of the stock exchange. (viii) Dealing in securities of a body corporate listed on any stock exchange on his own behalf or on behalf of any other person on the basis of any unpublished price sensitive information. (ix) Procuring or communicating any unpublished price sensitive information except as required in the ordinary course of business or under any law. (x) Counselling any person to deal in securities of any body corporate on the basis of unpublished price sensitive information. (xi) Indulging in fraudulent and unfair trade practices relating to securities. (xii) Execution of trade without entering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eases to be a member of a stock exchange; or (ii) has been declared defaulter by a stock exchange and not readmitted as a member within a period of six months; or (iii) surrender his certificate of registration to the Board; or (iv) has been found to be not a fit and proper person by the Board under these or any other regulations; or (v) has been declared insolvent or order for winding up has been passed in the case of a broker or sub-broker being a company registered under the Companies Act, 1956; or (vi) or any of the partners or any whole-time director in case a broker or sub-broker is a company registered under the Companies Act, 1956 has been convicted by a court of competent jurisdiction for an offence involvi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a stock broker or a sub-broker. (ii) Dealing in securities or providing trading floor or assisting in trading outside the recognized stock exchange in violation of provisions of the Securities Contract (Regulation) Act, 1956 or rules made or notifications issued thereunder. (iii) Market manipulation of securities or index. (iv) Indulging in insider trading in violation of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992. (v) Violating the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003. (vi) Failure without reasonable cause- (a) to produce to the investigating authority or any p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Regulations, 2000 vide S.O. No. 234 (E). (g) March 28, 2000 by SEBI (Appeal to Securities Appellate Tribunal) (Amendment) Regulations, 2000 vide S.O. No. 278 (E) (h) August 30, 2000 by SEBI (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2000 vide S.O. No. 787 (E). (l) May 29, 2001 by SEBI (Investment Advice by Intermediaries) (Amendment) Regulations, 2001 vide S.O. No. 476(E). (j) November 15, 2001 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2001 vide S.O. No. 1128 (E). (k) February 20, 2002 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2002 vide S.O. No. 220 (E). (I) September 27, 2002 by SEBI (Procedure for Holding Enquiry by Enquiry Officer and I ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
