SEBI Eases Contract Note Rules: 'Fit and Proper' Text Optional, URL Reference Allowed for Investor Protection.

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....The circular issued by SEBI on April 24, 2024, addresses the ease of doing business by amending the requirement of publishing 'fit and proper' status on contract notes. The relaxation, u/s 11(1) of the SEBI Act, eliminates the need to include the text of Regulation 19 of the SCR(SECC) Regulations, 2018 on contract notes. Instead, a reference to the applicable regulation must be made by mentioning the URL/weblink. Stock Exchanges must amend bye-laws, rules, and regulations accordingly and inform members about the changes. This action aims to streamline processes and protect investors' interests in the securities market.....