SEBI - Page 304

SEBI : Registration of Sub-Brokers

Ref.SMD-I/1541 (17/03/1994)

Under Regulation 11 of SEBI (Stock Brokers and Sub-Brokers) Rules and Regulations, 1992 the stock exchanges are required to forward the applications of sub-brokers to SEBI after certifying that the applicants are eligible for registration....

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SEBI (Debenture Trustees) Regulations, 1993

Notification No. SEBI/LE/12/93 (29/12/1993)

Any person aggrieved by an order of the Board made, on and after the commencement of the Securities Laws (Second Amendment) Act, 1999, (i.e., after 16th December 1999), under these regulations may prefer an appeal to Securities Appellate Tribunal having jurisdiction in the matter....

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SEBI : Registration of Sub Brokers

Ref. SMD-I/3118 (27/12/1993)

The stock brokers are not supposed to deal with those sub-brokers who are not registered with SEBI. Therefore you are requested to advise your member brokers to execute the agreement with their sub-brokers and collect the requisite fees to be forwarded to SEBI on an urgent basis....

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SEBi : Election Of President/Vice Presidents

SMD-II (N)/24456/93 (07/12/1993)

Stock exchanges in the country have amended their rules/Articles of Association to provide for non-eligibility of a person to offer himself as a candidate for being a President/Vice President if he has been so elected on two consecutive occasions earlier....

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SEBI : Implementation of BMC

Ref No : SMD/SED/93/cir (07/12/1993)

This has reference to the discussions at the Presidents/ED’s meeting of the stock exchanges with Chairman, SEBI on 24.11. 93. It may be recalled that it was agreed during that meeting that the base capital norm enumerated in the capital adequacy norms circulated by SEBI will be fulfilled by 10.12.93....

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SEBI : Know your client

SMD/SED/Cir/93/PMD/7311 (03/12/1993)

As the process of rounding off to the nearer multiple of 100 may result in the actual allotment being higher than the securities offered, it would be necessary to allow a 10% margin i.e. the final allotment may be higher upto 110% of the size of the actual offering....

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SEBI : Regulation Of Transactions Between Clients And Brokers

Ref .SMD/SED/CIR/93/23321 (18/11/1993)

In case of sales on behalf of clients, Member broker shall be at liberty to close out the contract by effecting purchases if the client fails to deliver the securities sold with valid transfer documents within 48 hours of the contract note having been delivered ...

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SEBI : Insider Trading Norms for Exchange Employees

SMD (B)/92/22828/93 (01/11/1993)

In regard to receipt of information from companies, you may devise standard written procedures for the receipt, processing and dissemination of such information to members of your exchange. The procedures may also incorporate a time frame....

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SEBI : Submission of Audit Certificates by brokers.

SMD-II(N)/22718/93 (27/10/1993)

Please refer to our letter No.SMD/SED/0012/92, dated December 31, 1992 regarding the aforesaid subject. In this regard, I draw your attention to the Circular No. F1/5/SE/83, of Govt of India, Ministry of Finance, Department of Economic Affairs...

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SEBI : Capital Adequacy Norms For Brokers

Circular No. SMD/SED/CIR/93/22570 (21/10/1993)

This has reference to SEBI’s letter No. SMD-I/11087/92 dated 4th November, 1992. On receiving the comments from various stock exchanges on the norms circulated by us it has been decided that the norms as set out in the annexure shall be made applicable to the stock brokers in all the stock exchanges....

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Latest SEBI News

Get the Latest News on SEBI from Taxguru. Read all the relevant SEBI circulars, updates to SEBI Act and SEBI Regulations exclusively at Taxguru.

SEBI (Securities and Exchange Board of India) was established in 1988 as a non-statutory body to regulate the Indian securities market. On April 12th, 1992, the Government of India made SEBI an autonomous body and offered statutory powers by passing the SEBI Act 1992 in the Parliament. SEBI is the regulator for the Indian securities market and has three major functions:  quasi-judicial, quasi-legislative and quasi-executive.

With the increase in the number of dealings in the Indian stock markets, a lot of malpractices was seen like price rigging, the unofficial premium on a new issue, delay in shares delivery, violations with respect to rules and regulations of the stock exchange and the listing requirements. With all such malpractices in place, the customers were losing their faith and confidence in the Indian stock exchange. Hence, the Indian government decided to set up a regulatory body or an agency known as SEBI (Securities Exchange Board of India).

SEBI drafts the regulations in the legislative capacity, it conducts investigations and enforces actions as per its executive function and it also passes orders and rulings as per its judicial capacity.The Indian Government has been vested SEBI with the following powers:

  • for approving the by−laws of stock exchanges.
  • requiring the stock exchange for amending their by−laws.
  • inspecting the books of accounts and calling for periodical returns from the recognized stock exchanges.
  • inspecting the books of accounts of the financial intermediaries.
  • compelling companies for list their shares on stock exchanges.
  • registration brokers.

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