Sub-broker eligibility: only members of the parent stock exchange may trade through a subsidiary, exchanges must amend rules. SEBI requires that only members eligible to trade on the parent stock exchange may trade or continue to trade through the exchange's subsidiary company; exchanges must amend their rules, byelaws and the subsidiary's Memorandum/Articles of Association accordingly, notify member brokers and clearing members, publish the provision on their websites for investor access, and report implementation status to SEBI in the Monthly Development Report.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Sub-broker eligibility: only members of the parent stock exchange may trade through a subsidiary, exchanges must amend rules.
SEBI requires that only members eligible to trade on the parent stock exchange may trade or continue to trade through the exchange's subsidiary company; exchanges must amend their rules, byelaws and the subsidiary's Memorandum/Articles of Association accordingly, notify member brokers and clearing members, publish the provision on their websites for investor access, and report implementation status to SEBI in the Monthly Development Report.
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