Restriction on directors acting as sub-brokers: prior rule barred a stock broker's director from acting as its sub-broker. Regulation 15A established a prohibition on a stock broker's director acting as its sub-broker to prevent conflicts of interest; this provision was inserted by amendment in 2003 and later omitted by subsequent notification, removing the explicit statutory bar and changing the regulatory treatment of director involvement in sub-broker relationships.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Restriction on directors acting as sub-brokers: prior rule barred a stock broker's director from acting as its sub-broker.
Regulation 15A established a prohibition on a stock broker's director acting as its sub-broker to prevent conflicts of interest; this provision was inserted by amendment in 2003 and later omitted by subsequent notification, removing the explicit statutory bar and changing the regulatory treatment of director involvement in sub-broker relationships.
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