Stock broker prohibition on dealing with unregistered sub-brokers removed, altering registration and compliance obligations under securities rules. Stock brokers were prohibited from dealing with persons as sub-brokers unless those persons held a certificate of registration issued by the Board; that specific textual prohibition, framed as Stock Broker not to deal with unregistered Sub-broker, was subsequently omitted from the regulations, removing the explicit registration-linked restriction on intermediary dealings.
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.
Stock broker prohibition on dealing with unregistered sub-brokers removed, altering registration and compliance obligations under securities rules.
Stock brokers were prohibited from dealing with persons as sub-brokers unless those persons held a certificate of registration issued by the Board; that specific textual prohibition, framed as Stock Broker not to deal with unregistered Sub-broker, was subsequently omitted from the regulations, removing the explicit registration-linked restriction on intermediary dealings.
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