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of <h1>SEBI Circular: Brokers Need Approval for Key Changes in Status u/r 4(c); Name Changes Just Need Reporting.</h1> The circular issued by SEBI outlines the requirements for stock brokers in the cash and derivatives segments regarding changes in status and constitution under Rule 4(c) of the SEBI (Stock Brokers and Sub-Brokers) Rules, 1992. It mandates prior SEBI approval for changes such as alterations in directors, control, business form, ownership transfers, mergers, or registration surrender. The circular specifies that exchanges must confirm brokers' compliance with various conditions before forwarding approval requests to SEBI. Additionally, it clarifies that changes in name do not require approval but must be reported to SEBI. This circular supersedes previous SEBI circulars on related matters.
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