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<h1>SEBI Updates Approval Process for Control Changes in Financial Intermediaries, Excludes Sub-Brokers; Single Window System Introduced.</h1> The Securities and Exchange Board of India (SEBI) has revised the procedure for obtaining prior approval for changes in control of certain financial intermediaries through a single window system. This applies to entities like stock brokers, merchant bankers, and credit rating agencies, among others, excluding sub-brokers. Entities with multiple SEBI registrations must submit a single application with comprehensive details about themselves and any acquirers. Additional approvals from relevant stock exchanges or depositories are required for stock brokers and depository participants. The approval is valid for 180 days, and compliance with this circular is mandatory for all concerned parties.