Role of Sub-Broker (SB) vis-a-vis Authorized Person (AP)

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....m, Sub: Role of Sub-Broker (SB) vis-a-vis Authorized Person (AP) 1. Under the current regulatory framework, Sub-Brokers ('SB') need to seek registration from SEBI under SEBI (Stock Broker and Sub-Broker) Regulations, 1992, and Authorized Persons ('AP') need to seek registration from the concerned Exchange. There is no difference in the operative role of a Sub-Broker and that of an Authorized....

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....on with SEBI as Sub-Broker, w.e.f. March 31, 2019. c) Consequent upon migration / deemed surrender, the certificate of registration granted to the Sub-Brokers by SEBI shall stand withdrawn. d) The migration path for existing registered Sub-Brokers, shall be as under: i. In case of a registered Sub-Broker who is already approved to act as AP in Derivatives Segment of the ....

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....ommendation from respective Stock Exchange. f) The Stock Exchanges shall put in place appropriate process for surrender or migration of Sub-Broker to AP / TM. 4. The Stock Exchanges are directed to: a) bring the provisions of this circular to the notice of the Stock Brokers and Sub-Brokers, and also disseminate the same on their websites; b) make amendments to the rel....