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<h1>SEBI Requires Stock Exchanges to Seek Approval for New Trading Segments, Amend Bye-Laws, and Update Websites.</h1> The Securities and Exchange Board of India (SEBI) mandates that stock exchanges must obtain prior approval from SEBI before introducing new trading segments. Exchanges are required to submit details and rationale for the new segments when applying for approval. Additionally, exchanges must amend their bye-laws, rules, and regulations to align with this directive, inform member brokers and clearing members, and update their websites accordingly. Exchanges must report the implementation status of this directive in their October 2003 Monthly Development Report. This circular is issued under the authority of the SEBI Act, 1992, and the Securities Contracts (Regulation) Act, 1956, to safeguard investor interests and regulate the securities market.