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of <h1>SEBI Amends Merchant Bankers Regulations: New Registration Rules, Corporate Body Mandates, and Activity Restrictions Effective 1997.</h1> The Securities and Exchange Board of India (SEBI) issued amendments to the Merchant Bankers Regulations, 1992, effective from December 9, 1997. Key changes include the introduction of sub-regulation 2A, requiring separate registration for underwriting and portfolio management activities. Regulation 6 now mandates applicants to be corporate bodies, excluding non-banking financial companies, and to be deemed fit and proper. Changes in regulations 8 and 9 include the removal of certain sub-regulations and clauses. A new regulation 13A restricts merchant bankers to securities market activities only. Amendments to Forms A and B in Schedule I involve the omission of specific category references.
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