Review of norms relating to trading by members/sub brokers

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..... norms relating to trading by members/sub brokers. 1. During the course of inspections carried out by SEBI of the books of accounts and other documents of members/sub brokers, it has been observed that certain members/sub brokers are dealing through a large number of other stock brokers/sub brokers of the same exchange/other exchange for their proprietary trades as well as trades on behalf of cli .....

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..... rs of the same exchange and after carrying out due diligence allow such brokers/sub brokers to deal with only one stock broker/sub broker of the same exchange. 3.2 A stock broker/sub broker of an exchange can deal with only one broker/sub broker of another exchange for proprietary trading after intimating the names of such stock broker/sub broker to his parent stock exchange. 3.3 As per Regulati .....

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..... ber brokers/sub brokers affiliated to the members of the exchange and also to disseminate the same on the website. 5.3 communicate to SEBI, the status of the implementation of the provisions of this circular in the Monthly Development Report for the month of January 2004. 6. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of .....

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