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of <h1>SEBI Ends Sub-Broker Category; Transition to Authorized Persons or Trading Members by March 31, 2019.</h1> The Securities and Exchange Board of India (SEBI) has decided to discontinue the category of Sub-Broker as a registered intermediary. Sub-Brokers will no longer receive new registrations, and pending applications will be returned. Existing Sub-Brokers have until March 31, 2019, to transition to Authorized Persons (AP) or Trading Members (TM), or their registration will be deemed surrendered. SEBI will withdraw registration certificates upon migration or surrender. Sub-Brokers must pay renewal fees until the 2018-19 financial year, with refunds for subsequent years. Stock Exchanges are instructed to facilitate this transition and ensure compliance with the new framework.
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