INSTITUTIONAL MECHANISM FOR PREVENTION AND DETECTION OF FRAUD OR MARKET ABUSE - Securities and Exchange Board of India (Stock Brokers) Regulations, 1992
INSTITUTIONAL MECHANISM FOR PREVENTION AND DETECTION OF FRAUD OR MARKET ABUSE - Securities and Exchange Board of India (Stock Brokers) Regulations, 1992
Recordkeeping obligations require stock brokers to maintain specified books, notify the regulator, and furnish audited accounts.
Regulation 17 requires stock brokers to maintain specified books and records-transaction registers, ledgers, journals, cash and bank books, documents register for securities, contract books, contract note counterfoils, client consents, margin deposit book and client account opening forms-and for Execution Only Platforms to keep records as the Board specifies. Brokers must notify the Board of record location and, if required, furnish audited financial statements within six months or notify delays. Additional recordkeeping, agreement and conduct requirements apply where brokers act as underwriters, including specified agreement terms and limits on benefits from underwriting.
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