Sub-broker registration requirement: sub-brokers may commence business only after SEBI issues registration certificate and brokers must ensure compliance. Brokers and stock exchanges must ensure sub-brokers do not commence buying, selling or dealing in securities until SEBI has cleared the registration and the sub-broker holds the SEBI-issued registration certificate; mere application to a broker or exchange does not permit commencement of business, and contravention or abetment invites penal consequences under the SEBI Act.
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 registration requirement: sub-brokers may commence business only after SEBI issues registration certificate and brokers must ensure compliance.
Brokers and stock exchanges must ensure sub-brokers do not commence buying, selling or dealing in securities until SEBI has cleared the registration and the sub-broker holds the SEBI-issued registration certificate; mere application to a broker or exchange does not permit commencement of business, and contravention or abetment invites penal consequences under the SEBI Act.
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