SEBI vide circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/24 dated February 06, 2023, on “Enhanced obligations and responsibilities on Qualified Stock Brokers (QSBs)” enumerated the parameters for designating certain stock brokers, having regard to their size and scale of operations, likely impact on investors and securities market, as well as governance and service standards, as Qualified Stock Brokers (QSBs), on the basis of certain parameters and appropriate weightages thereon.
Based on the parameters defined in the aforesaid circular, the list of stock brokers designated as Qualified Stockbrokers (QSBs) was released vide Exchange Notice No.20230303-66 dated March 03,2023. BSE in consultation with SEBI and other Exchanges has formulated comprehensive operating guidelines applicable to designated QSBs along with timelines for adherence to said compliance requirements.
Please find enclosed the following Annexures in this regard:
1. Comprehensive operating guidelines - Annexure A.
2. Formats for reporting of compliances with operating guidelines to Exchange – Annexure B
Stock Brokers designated as QSBs shall be required to comply with enhanced obligations as specified in aforesaid guidelines and discharge additional responsibilities w.e.f. July 01, 2023.
Members are requested to take note of the contents of the circular.
In case of any clarifications, members may contact us on details given as under:
For and on behalf of BSE Ltd.
Hiteshkumar Desai Sandeep Sharma
General Manager Asst General Manager
Brokers' Supervision Brokers' Supervision
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