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of <h1>SEBI Regulations: Stock Brokers Must Maintain Records, Notify SEBI, Submit Audited Statements, and Follow Underwriting Limits</h1> Every stock broker must maintain specific books of account, records, and documents, including transaction registers, client ledgers, and contract notes, as per SEBI regulations. They must notify SEBI of the location of these records and submit audited financial statements within six months of the accounting period's end. Stock brokers acting as underwriters must keep additional records and enter into agreements with clients detailing responsibilities and obligations. Underwriters must not exceed underwriting obligations beyond twenty times their net worth and must subscribe to securities within 45 days if required. They are entitled to commissions or brokerage as their sole benefit.
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