Registration requirements for stock brokers set out application particulars, declarations, and exchange recommendation procedures. Schedule I prescribes application and certificate forms for registration as a stock broker, clearing member and sub-broker, requiring applicant particulars (membership, contact, organizational form, net worth, PAN), details of proprietors/partners/directors, constitution documents, clearing arrangements and fee payment. Forms mandate undertakings about convictions, insolvency, prior regulatory proceedings, disciplinary actions and corrective steps, and include a declaration that false or suppressed information may lead to cancellation. Exchanges/clearing corporations must provide recommendation or recognition letters, and a standard certificate of registration is issued subject to suspension or cancellation under the regulations.
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Registration requirements for stock brokers set out application particulars, declarations, and exchange recommendation procedures.
Schedule I prescribes application and certificate forms for registration as a stock broker, clearing member and sub-broker, requiring applicant particulars (membership, contact, organizational form, net worth, PAN), details of proprietors/partners/directors, constitution documents, clearing arrangements and fee payment. Forms mandate undertakings about convictions, insolvency, prior regulatory proceedings, disciplinary actions and corrective steps, and include a declaration that false or suppressed information may lead to cancellation. Exchanges/clearing corporations must provide recommendation or recognition letters, and a standard certificate of registration is issued subject to suspension or cancellation under the regulations.
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