In accordance with SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2024/14 dated March 11, 2024, list of Qualified Stock Brokers has been issued vide Exchange Notice No. 20240319-49 dated March 19, 2024, on “Measures to instill trust in securities market - Expanding the framework of Qualified Stock Brokers (QSBs) to more stock brokers”.
SEBI vide para 4.5 and 4.6 of Circular dated March 11, 2024, has facilitated stock brokers to voluntarily get designated as QSBs. Accordingly, stock brokers who have not qualified to become QSB by virtue of parameters enumerated at para 4.1.1 to 4.1.7 and para 1.1 to 1.7 of the aforesaid SEBI and Exchange Circular, may apply to Exchange on or before July 31, 2024, for voluntary designation as QSB.
The stock brokers designated as voluntary QSB by Exchange shall comply with the enhanced obligations and responsibilities as specified in SEBI Circular No. SEBI/HO/MIRSD/MIRSDPoD-1/P/CIR/2023/24 dated February 06, 2023, and also discharge additional responsibilities as specified in Comprehensive Operating Guidelines issued vide Exchange Notice No. 20230601-54 dated June 01, 2023, w.e.f. September 01, 2024, for a period of 1 year. Further they shall continue to comply with the enhanced obligations and responsibilities for an additional period of 3 financial years or such time, as may be prescribed by the Exchange, in consultation with SEBI.
Revised list of Qualified Stock Brokers (QSBs) is enclosed herewith as Annexure A (list is in alphabetical order and is not indicative of ranking). This revised list of Qualified Stock Brokers supersedes the list of QSBs as prescribed in earlier Exchange Notice No. 20240319-49 dated March 19, 2024.
These QSBs shall be required to meet enhanced obligations and responsibilities as specified in SEBI Circular No. SEBI/HO/MIRSD/MIRSDPoD-1/P/CIR/2023/24 dated February 06, 2023, and also discharge additional responsibilities as specified in Comprehensive Operating Guidelines issued vide Exchange Notice No. 20230601-54 dated June 01, 2023.
Stock Brokers designated as QSBs vide Exchange Notice No. 20230303-66 dated March 03, 2023, and included in the revised list attached as Annexure A, shall continue as QSB and comply with the enhanced obligation and responsibilities defined in the above mentioned circulars. The new QSBs included in the revised list shall comply with the said enhanced obligations and discharge responsibilities w.e.f. September 01, 2024.
Stock Brokers designated as QSBs vide Exchange Notice No. 20230303-66 dated March 03, 2023, and not included in Annexure A of this circular, shall continue to comply with the enhanced obligations and responsibilities, for an additional period of 3 financial years or such time, as may be specified by the Exchange, in consultation with SEBI.
All other provisions of SEBI Circular No. SEBI/HO/MIRSD/MIRSDPoD-1/P/CIR/2023/24 dated February 06, 2023, Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2024/14 dated March 11, 2024, and Exchange notice No. 20240319-49 dated March 19, 2024, shall continue to be applicable.
All applications for voluntary designation as QSB may be submitted to voluntaryqsb@bseindia.com latest by July 31, 2024.
Members are requested to take note of the contents of the Circular and comply.
In case of any clarifications, members may contact us on details given as under:
For and on behalf of BSE Ltd.
Hiteshkumar Desai Richa Ghosh
General Manager Asst. Gen. Manager
Inspection Inspection
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