January 21, 2008
N O T I C E
Change in
affiliation of Sub-Brokers
Members are hereby informed that SEBI vide its Circular No.MIRSD-DR1/MK/Cir-15/111600/07 dated December 20, 2007 intimated all Stock Exchanges that in terms of Regulation-11(2) of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 no fresh certificate needs to be obtained under sub-regulation (1) where a sub-broker merely changes his affiliation from one stock broker to another stock broker, being a member of the same stock exchange. SEBI has further advised that though no fresh certificate needs to be obtained for change in affiliation, such a change may require approval from the SEBI. The aforesaid circular prescribed certain procedures to be adopted in case of change in affiliation by the sub-broker. The relevant circular is appended below for information and necessary action on the part of the members/sub-brokers affiliated to members. Members may obtain copy of the circular from the Manager(Membership)/ Shri Sumit Sengupta (Junior Executive) of the Exchange if deemed necessary.
Members are requested to take note of the same and act accordingly.
(Secretary)