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of <h1>SEBI Amends Stock Broker Regulations, Introduces Fit and Proper Criteria for Market Participants under SEBI Act Sections 30, 11, 12.</h1> The Securities and Exchange Board of India (SEBI) issued an amendment to the Stock Brokers and Sub-Brokers Regulations, 2003, under the authority granted by sections 30, 11(1), and 12 of the SEBI Act, 1992. This notification, identified as S.O. No. 398(E), was released on March 10, 2004, in Mumbai. The amendment introduces the SEBI (Criteria for Fit and Proper Person) Regulations, 2004, which outlines the criteria for determining whether individuals or entities are suitable to operate within the securities market.
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