Market Access through Authorised Persons
Summary
SEBI modifies the framework for market access through Authorised Persons to rationalize certification requirements. The modification involves deleting a specific sub-clause and inserting a new clause mandating continuous segment certification for approved users and sales personnel. Stock exchanges are advised to amend their bye-laws to implement these changes effective immediately.
Text
it is decided to rationalize the certification requirements for the Authorised Persons in line with those applicable to the stock brokers and Sub-Brokers.
Sub-clause (f) of clause 4.1 of the framework stands deleted.
The approved users and/or sales personnel of Authorised Persons shall have the necessary certification of the respective segments at all points of time.
The stock exchanges are advised to make necessary amendments to the bye-laws, rules and regulations to implement the framework for market access through authorized persons.
This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
The circular shall come into force from date of this circular.
Source: SecMarx — Market Access through Authorised Persons. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.