Deeming distributor as intermediary expands intermediary coverage and aligns distributor and issuer definitions with related regulations. Amendments to the SEBI (Self Regulatory Organizations) Regulations, 2004 add cross-references importing the definitions of distributor and issuer from related SEBI certification and intermediaries regulations, substitute the intermediary definition to align with the Intermediaries Regulations, and insert a proviso deeming a distributor to be an intermediary; the Board may notify staggered commencement dates for different classes of intermediaries.
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Deeming distributor as intermediary expands intermediary coverage and aligns distributor and issuer definitions with related regulations.
Amendments to the SEBI (Self Regulatory Organizations) Regulations, 2004 add cross-references importing the definitions of distributor and issuer from related SEBI certification and intermediaries regulations, substitute the intermediary definition to align with the Intermediaries Regulations, and insert a proviso deeming a distributor to be an intermediary; the Board may notify staggered commencement dates for different classes of intermediaries.
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