Stock Broking

NSE issued a list of 61 words brokers are barred from using misleading titles to offer client services they aren't permitted to

Capital markets regulator Sebi on Tuesday extended the timeline by three weeks for entities, operating as online bond platform providers, to make an application for registration as stock brokers. The extension has been given keeping in view the technical difficulties faced by these entities, the Securities and Exchange Board of India (Sebi) said in a circular. "It has been decided to grant an additional time period of three weeks commencing from February 9, 2023 (the end of three months from November 9, 2022) for making an application to obtain a certificate of registration as a stock broker under the Sebi (stock brokers) regulations," the markets watchdog said. Accordingly, the application for registration by online bond platform providers (OBPPs) as stock brokers would be made by March 1, 2023. Under the regulatory framework issued in November, Online Bond Platform Providers (OBPPs) should be companies incorporated in India and they should register themselves as stock brokers in

Asks brokers to maintain whistleblower policy, furnish action-taken report upon spotting fraud; top management to be held accountable for non-compliance

Capital markets regulator Sebi on Wednesday levied a fine totalling Rs 75 lakh on Indian Clearing Corp Ltd (ICCL) and NSE Clearing Corp Ltd (NCL) for violating norms in the matter of Karvy Stock Broking Ltd (KSBL). In two separate orders, the regulator slapped a fine of Rs 50 lakh on ICCL and Rs 25 lakh on NSE Clearing Corporation. The order came after market watchdog initiated adjudication proceedings against ICCL and NSE Clearing Corp for alleged violation of provisions of Sebi's early warning mechanism (EWM) circular issued on December, 2018. Under the EWM circular, alerts triggered at one stock exchange / clearing corporation/ depository through early warning mechanism shall be immediately shared with other stock exchanges / depositories with respect to the stock broker / depository participant. It was observed that National Securities Depository Limited (NSDL) sent various alerts pertaining to KSBL to ICCL and NCL during February-November 2019. ICCL and NCL were required to .

The broking firm had misused securities from clients through unauthorised pledging which were used to raise funds from several banks

Ahead of the Union Budget 2023-24, stock brokers' association Anmi has urged the government to accord industry status to Sebi-registered intermediaries and complete abolition of the Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT). In addition, Anmi (Association of National Exchanges Members of India) has sought the exemption of short-term capital gains of up to Rs 1 lakh and raising the threshold for tax on dividends. Presenting a recommendation for the upcoming Budget to Central Board of Direct Taxes (CBDT) chairman Nitin Gupta, Anmi, a grouping of 900 stock brokers, has sought industry status for Sebi-registered market intermediaries. The move will remove unwarranted restrictions, cost of funding and capital requirements for market intermediaries and will help create financial services companies of global scale. The grouping has suggested dispensing with the treatment of speculative income/loss under section 45 of day trading in listed shares in which no ..

Sebi has put in place a revised framework for seeking its prior approval for changes in control of stock brokers, depository participants and other market intermediaries. The framework will be applicable for stock broker/clearing member, depository participant, investment adviser, research analyst or research entity, registrar to an issue and share transfer agent and KYC (Know Your Client) Registration Agencies (KRAs). In a circular on Monday, the regulator said the changes have been made to streamline the process of providing approval to the proposed change in control of the entities. Under the provisions, which will be effective from December 1, an intermediary should apply online for Sebi's prior approval and along with the application, the entity concerned has to submit various details, including the current and proposed shareholding pattern of the applicant. "The prior approval granted by Sebi shall be valid for a period of six months from the date of such approval within whic

Stock exchanges to put a structure of financial disincentives for non-compliance by brokers

The biggest gains came to banks, which reported a 35.8 per cent YoY growth rate in their combined net profit in Q2 FY23

Motilal Oswal Financial Services is the only stock among major broking firms that slipped to a fresh 52-week low last week

Anand Rathi Wealth reported strong growth in asset under management (AUM) of 16 per cent YoY at Rs 35,842 crore.

Capital markets regulator Sebi on Friday came out with guidelines for stock brokers, who provide services relating to algorithmic trading to investors, to prevent instances of mis-selling. The guidelines came after the Securities and Exchange Board of India (Sebi) observed that certain stock brokers provide algorithmic trading facilities to investors through unregulated platforms. The unregulated platforms are offering algorithmic trading services or strategies to investors for automated execution of trades. Such services and strategies are being marketed with "claims" of high returns on investment, Sebi said in a circular. Further, "ratings" have been assigned to the strategies, which could lead to investors being lured by such claims. This may amount to mis-selling of such services and strategies to investors, it added. Accordingly, Sebi has given certain responsibilities to stock brokers that provide algorithmic trading facilities to investors through such platforms. Such stock

Says stock exchange only has jurisdiction over trading members and cannot issue directions to other entities

According to analysts, the stock broking industry is expected to see tepid growth in fiscal year 2022-23 (FY23) amid market volatility

Uncertainty on revival of demand is a key overhang for the stock

Value of pledged shares put at Rs 73,102 crore; 22.8 per cent was pledged in December quarter.

Try to save cost on mode of investing, but it is usually not wise to scrimp on the cost of advice

Capital markets regulator Sebi on Friday imposed a Rs 6 lakh penalty on Pace Stock Broking Services for flouting norms related to National Stock Exchange's co-location facility.

Kamath says the right way to value online brokerage is 15-20 times earnings which would peg the bootstrapped start-up's valuation at over $3 billion

Markets regulator Sebi on Monday cancelled the registration of four stock brokers and 11 depository participants, including Karvy Stock Broking and Anugrah Stock & Broking. Irrespective of the cancellation of registration certificate, the respective entities will continue to be liable for anything done as depository participant or stock broker and will continue to be responsible for payment of outstanding fees and dues and interest if any, due to Sebi. The directions will come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in two separate orders. Sebi said the registration of four stock brokers -- KSBL Securities, Conard Securities, Anee Securities and Credential Stock Brokers -- have been cancelled upon expulsion from the stock exchanges. The exchanges have informed Sebi that brokers were expelled from their membership by them and the same has been communicated to them, the order mentioned. The four entities have ceased to satisfy the ...