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of <h1>SEBI Enforces Separation of Ownership and Management at Bangalore Stock Exchange; Broker Members Restricted from Key Positions.</h1> The Securities and Exchange Board of India (SEBI) issued a directive requiring all stock exchanges to separate ownership and trading membership from management. The Bangalore Stock Exchange Limited did not comply within the specified timeframe. Consequently, SEBI amended the Articles of Association for Bangalore Stock Exchange Limited, adding a proviso to Article 54 that prohibits broker members from holding positions such as President, Vice President, or Treasurer. This action was taken under the authority of the Securities Contracts (Regulation) Act, 1956, to enforce the policy decision by SEBI and the Central Government.
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