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of <h1>SEBI Amends Stock Broker Regulations: New Clause on Financial Liabilities, Fee Calculation Changes, Membership Card Conversion Clarifications.</h1> The Securities and Exchange Board of India (SEBI) issued the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2002. This amendment introduces a new clause in regulation 16C regarding financial liabilities due to SEBI. It also modifies fee calculations for various transactions, such as jobbing transactions, government securities, and unreported transactions, with specific rates applied to turnover. Additionally, it clarifies that converting membership cards into corporate entities continues the old entity, exempting them from paying fees again for previously covered periods.
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