Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
The Securities and Exchange Board of India (SEBI) issued the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2024, effective upon publication in the Official Gazette. This amendment introduces Chapter IVA, establishing an institutional mechanism for the prevention and detection of fraud or market abuse. Key provisions include definitions of terms such as "Designated Director," "fraud," "market abuse," and "suspicious activity." It mandates stock brokers to implement surveillance systems and internal controls to detect and prevent fraud or market abuse, maintain adequate know your client (KYC) systems, and establish a whistleblower policy. Stock brokers must report suspicious activities to stock exchanges within 48 hours and submit half-yearly reports. The Board of Directors must review these systems quarterly.
The Securities and Exchange Board of India (SEBI) issued the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2024, effective upon publication in the Official Gazette. This amendment introduces Chapter IVA, establishing an institutional mechanism for the prevention and detection of fraud or market abuse. Key provisions include definitions of terms such as "Designated Director," "fraud," "market abuse," and "suspicious activity." It mandates stock brokers to implement surveillance systems and internal controls to detect and prevent fraud or market abuse, maintain adequate know your client (KYC) systems, and establish a whistleblower policy. Stock brokers must report suspicious activities to stock exchanges within 48 hours and submit half-yearly reports. The Board of Directors must review these systems quarterly.
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