Brokers' institutional mechanism for fraud prevention mandated with staggered risk-based implementation across broker categories and ISF standards. Requires stock brokers to implement an institutional mechanism for prevention and detection of fraud or market abuse, comprising systems for surveillance and internal controls, broker and employee obligations, escalation and reporting, and a Whistle Blower Policy; the ISF, with SEBI, will frame implementation standards; stock exchanges must notify brokers, amend rules, issue applicability notices, mandate adoption of ISF standards, and report implementation status to SEBI.
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Brokers' institutional mechanism for fraud prevention mandated with staggered risk-based implementation across broker categories and ISF standards.
Requires stock brokers to implement an institutional mechanism for prevention and detection of fraud or market abuse, comprising systems for surveillance and internal controls, broker and employee obligations, escalation and reporting, and a Whistle Blower Policy; the ISF, with SEBI, will frame implementation standards; stock exchanges must notify brokers, amend rules, issue applicability notices, mandate adoption of ISF standards, and report implementation status to SEBI.
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