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of <h1>SEBI Circular Requires Brokers to Pay 50% of Fees Based on Turnover; Deadline March 31, 2003, per Regulations 1992.</h1> The circular from SEBI mandates that stock brokers must pay at least 50% of their principal fees based on turnover, as per the SEBI (Stock Brokers & Sub-Brokers) Regulations 1992, following a Supreme Court judgment. Brokers who have not yet paid must remit this portion and commit to paying the remaining balance with interest within two years. This payment facility will cease after March 31, 2003. Stock exchanges are instructed to notify their members of these requirements and deadlines.
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