TaxTMI 
TaxTMI 
Ease of doing business measures – Relaxations in certain reporting requirements for certain Stock Brokers and doing away with the requirement of reporting of demat account
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....es All Depositories Madam / Sir, Sub: Ease of doing business measures - Relaxations in certain reporting requirements for certain Stock Brokers and doing away with the requirement of reporting of demat account 1. SEBI has specified provisions pertaining to enhanced supervision of Stock Brokers ("brokers")/Depository Participants ("DPs") under para 15 of Master Circular for Stock Broker....
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.... relax the reporting requirement of demat account for brokers and to align the reporting framework of brokers which are primary dealers with the exemptions provided to brokers which are banks. In view of the same and to enhance regulatory efficiency as well as to promote ease of doing business for brokers by harmonizing and relaxing the reporting obligations, it has been decided to modify the rele....
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....by Stock Broker 15.4.1.................................... 15.4.1.1. Stock broker which is also bank or primary dealer, shall be required to report only those bank accounts to the stock exchanges that are used for their stock broking activities. 15.4.2. Deleted 15.4.3. Stock Exchanges and/or depositories, as the case may be, shall ensure the following: ....
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....r depositories, as the case may be. 15.4.3.6. Depositories shall provide details of all demat accounts opened/closed by a stock broker to the concerned stock exchanges. The periodicity and mechanism of sharing the said details shall be jointly determined by stock exchanges and depositories. 5. Accordingly, Paras 15.3 and 15.4 of Master Circular for Stock Brokers dated June 17, 2025 sta....