Central Government to segregate ownership and trading membership from management of stock exchanges - Whereas Bangalore Stock Exchange Limited has failed to comply with the said order within the time stipulated. - S.O. No.430(E) - SEBI/LE/6204/02 - SEBI
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Segregation of ownership and trading membership bars broker members from holding exchange office bearer positions, enforcing governance separation. The Securities and Exchange Board of India amended the Articles of Association of Bangalore Stock Exchange Limited to add a proviso prohibiting broker members from serving as office-bearers-President, Vice President or Treasurer-thereby enforcing the segregation of ownership and trading membership from the management of the exchange under its statutory powers.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Segregation of ownership and trading membership bars broker members from holding exchange office bearer positions, enforcing governance separation.
The Securities and Exchange Board of India amended the Articles of Association of Bangalore Stock Exchange Limited to add a proviso prohibiting broker members from serving as office-bearers-President, Vice President or Treasurer-thereby enforcing the segregation of ownership and trading membership from the management of the exchange under its statutory powers.
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