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of <h1>Sub-brokers need SEBI certificate before starting business; brokers must ensure compliance per SEBI Act Section 12(1).</h1> Brokers are instructed to ensure their sub-brokers commence business only after receiving a registration certificate from the Securities and Exchange Board of India (SEBI). According to Section 12(1) of the SEBI Act, 1992, and Rule 3 of the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Rule 1992, sub-brokers must hold a SEBI-granted certificate before engaging in securities transactions. Any violation or attempt to violate this rule is punishable under Section 24(1) of the SEBI Act, 1992. Brokers must inform their sub-brokers and ensure compliance immediately.
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