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<h1>SEBI Implements New Regulations for Stock Brokers; Compliance Required by April 1, 2005, for Most Brokers.</h1> The circular mandates the implementation of the SEBI (Stock Brokers and Sub brokers) (Amendment) Regulations, 2003, including the Model Tripartite Agreement format, effective from April 1, 2005, for all brokers except subsidiaries of recognized stock exchanges. It further extends the compliance requirement to these subsidiaries and their registered sub brokers from June 1, 2005. The circular instructs stock exchanges to inform member brokers and publish the information on their websites. This directive is issued under the authority of Section 11(1) of the SEBI Act, 1992, to protect investor interests and regulate the securities market.