MIIs Must Ensure That Charges Levied on End Clients by Members Match Actual Charges They Receive | SEBI
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Circular No. SEBI/HO/MRD/TPD-1/P/CIR/2024/92; Dated: 01.07.2024
SEBI observed that some market infrastructure institutions (MIIs) follow a volume-based slab-wise charge structure, where charges for various services offered by MIIs are recovered from end clients by members. This can result in an incorrect disclosure to the end client. SEBI has clarified that charges levied by MIIs must be true to label, i.e. if a charge is levied on the end client by members (e.g. stock brokers, DPs, clearing members), MIIs must ensure that they receive the same amount.
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