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of The regulatory authority issued an updated master circular consolidating all prior circulars and guidelines applicable to stock brokers, superseding the previous master circular dated August 9, 2024. Certain earlier circulars listed in the appendix are rescinded, but actions taken, applications made, rights, obligations, penalties, and proceedings under those rescinded circulars remain valid and unaffected. The circular is issued under statutory powers to protect investors and regulate securities markets, ensuring clarity and accessibility of applicable regulations for stock brokers.
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