Measures to instil confidence in securities market – Brokers’ Institutional mechanism for prevention and detection of fraud or market abuse

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Measures to instil confidence in securities market Brokers Institutional mechanism for prevention and detection of fraud or market abuse 1. Chapter IVA of the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2024 (hereinafter referred to as the Broker Regulations ) requires stock brokers to put in place an institutional mechanism for prevention and detection of frau .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n their size, for making necessary changes. 3.2. Based on the above, the effective date for implementation for different stock brokers has been prescribed in the table below: Number of active UCCs* of stockbroker Applicability of Operational / working Modalities Guidance Note 50,000 January 01, 2025 2,001 to 50,000 April 01, 2025 upto 2,000 April 01, 2026 * -as on last day of the preceding month o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ove; 4.4. notify the obligation/requirement on the stock brokers to follow the standards adopted by the ISF, in consultation with SEBI. 4.5. communicate to SEBI, the status of the implementation of the provisions of this circular in their monthly development report. 5. This circular is issued in exercise of powers conferred under Section 11(1) of Chapter IV of the Securities and Exchange Board of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X