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On March 30, 2021, the Securities and Exchange Board of India notified the SEBI (Stock Brokers) Amendment Regulations, 2021. The regulations were issued to amend the SEBI (Stock Brokers) Regulations, 1992. The regulations were introduced in exercise of powers conferred under Section 30 of the SEBI Act 1992. In this article, we shall discuss the key changes brought in by the amendment.
Table of Contents
Under the amendment brought in, definitions are inserted in regulation 2 of SEBI (Stock Brokers) Regulations. These include the following definitions:
Some of the other changes include:
Further, the SEBI (Stock Brokers) Amendment Regulations, 2021, state the responsibilities and duties of a stock broker acting as an underwriter.
The following responsibilities should be fulfilled by a stock broker as an underwriter:
Apart from the responsibilities provided above, the stock broker acting as an underwriter shall comply with the below-mentioned points:
If an employee of the stock broker renders such advice, the stock broker should ensure that he shall disclose its interest, dependent family member’s interests, and of the employer, while rendering such advice.
So the SEBI (Stock Brokers) Amendment Regulations, 2021 contains provisions related to agreement with client that has been inserted with general responsibilities and duties as an underwriter. For accurate understanding, refer the SEBI notification regarding the same.
Read our article:Disclosures required under SEBI (Substantial Acquisition of Shares and Takeovers) Regulation, 2011
Ashish M. Shaji has done his graduation in law (BA. LLB) from CCS University. He has keen interests in doing extensive research and writing on legal subjects especially on corporate law. He is a creative thinker and has a great interest in exploring legal subjects.
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