SEBI Expands Framework of ‘Qualified Stock Brokers’ to Strengthen Investors Trust in Securities Market
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- By Chetan Kulasri
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- Last Updated on 13 March, 2024
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Circular: SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2024/14, Dated: 11.03.2024
Earlier, SEBI specified four parameters for designating a stockbroker as a ‘Qualified Stock Broker’ (QSB) on an annual basis. Now, SEBI has expanded framework of QSBs to include more stock brokers. Accordingly, SBI has revised a list of QSBs by adding more parameters.
The additional parameters include compliance score of the stockbroker, grievance redressal score of the stockbroker and the proprietary trading volumes of the stockbroker. Also, the procedure for identifying stock broker as QSB has been revised.
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