Qualified stock broker designation expands supervision; designated brokers must meet enhanced governance, risk, infrastructure and investor service obligations. The regulations create a qualified stock broker designation based on client numbers, client assets, trading volumes, margin obligations, compliance and grievance scores, and proprietary trading, with the Board assigning weightages. Designated brokers must meet enhanced obligations including governance structures, risk management policies, scalable infrastructure, orderly winding down frameworks, robust cyber security, and investor services with online complaint redressal. Execution Only Platforms must maintain specified books and records, and Variable Networth is not applicable to that segment; fee and networth schedule entries for the segment are inserted.
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Provisions expressly mentioned in the judgment/order text.
Qualified stock broker designation expands supervision; designated brokers must meet enhanced governance, risk, infrastructure and investor service obligations.
The regulations create a qualified stock broker designation based on client numbers, client assets, trading volumes, margin obligations, compliance and grievance scores, and proprietary trading, with the Board assigning weightages. Designated brokers must meet enhanced obligations including governance structures, risk management policies, scalable infrastructure, orderly winding down frameworks, robust cyber security, and investor services with online complaint redressal. Execution Only Platforms must maintain specified books and records, and Variable Networth is not applicable to that segment; fee and networth schedule entries for the segment are inserted.
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