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SEBI : Registration Number of Brokers / Sub-brokers to be quoted on all correspondences with SEBI

Regulations, 1992 either directly or through the concerned stock exchange do not provide important details required for expeditiously crediting the drafts to the account of the concerned Broker / Sub-broker. This results in avoidable correspondences and delay in crediting these drafts.

Chief General Manager

Secondary Market Department

SMD/DBA-II/Cir-16/ 9618/03

May 5, 2003

The Executive Director/Managing Director

All Stock Exchanges

Dear Sir,

Sub: SEBI Registration Number of Brokers / Sub-brokers to be quoted on all correspondences with SEBI

It has been observed that many Brokers / Sub-brokers do not quote the SEBI Registration Number in their correspondences with SEBI. The Exchanges also forward the correspondences of the Brokers / Sub-brokers or correspond on behalf of Brokers / Sub-brokers without quoting the SEBI Registration Number of the concerned Broker / Sub-broker. As a result, it becomes difficult to file the correspondences in the right file and process them. It is also observed that the demand drafts forwarded by Brokers/ Sub-brokers towards payment of fees under the SEBI (Stock brokers and Sub brokers) Regulations, 1992 either directly or through the concerned stock exchange do not provide important details required for expeditiously crediting the drafts  to the account of the concerned Broker / Sub-broker. This results in avoidable correspondences and delay in crediting these drafts.

You are, therefore, advised to quote the SEBI Registration Number of the concerned Broker / Sub-Broker on all correspondences with SEBI relating to them. You are also advised to instruct the Brokers / Sub-brokers to quote their SEBI Registration Number in all their correspondences with SEBI. You are further advised to advise the Brokers / Sub-brokers to indicate (i) SEBI Registration Number of the Broker / Sub-broker and (ii) Name of the Broker/ Sub-broker as per SEBI registration certificate on the reverse of the drafts forwarded to SEBI.

Yours faithfully,

(M. S. Sahoo)

Categories: SEBI
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