Prior approval for change in control required for regulated intermediaries; single window SEBI application streamlines multi registration approval process. Prior approval from SEBI is required for change in control of specified intermediaries (excluding Sub-brokers) and, where an applicant holds multiple registrations, a single application must be made to MIRSD SEBI with disclosures about the applicant and acquirer, regulatory history, investor complaints, litigation, fees paid, commitment to honour past liabilities, and board incumbency; registered stock brokers and depository participants must also obtain approvals/NOCs from relevant stock exchanges and depositories and forward self attested copies to SEBI.
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Provisions expressly mentioned in the judgment/order text.
Prior approval for change in control required for regulated intermediaries; single window SEBI application streamlines multi registration approval process.
Prior approval from SEBI is required for change in control of specified intermediaries (excluding Sub-brokers) and, where an applicant holds multiple registrations, a single application must be made to MIRSD SEBI with disclosures about the applicant and acquirer, regulatory history, investor complaints, litigation, fees paid, commitment to honour past liabilities, and board incumbency; registered stock brokers and depository participants must also obtain approvals/NOCs from relevant stock exchanges and depositories and forward self attested copies to SEBI.
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