Prevention of Unauthorised Trading by Stock Brokers
Summary
This circular extends the implementation date of previous guidelines on preventing unauthorized trading by stock brokers to April 1, 2018. It directs recognized Stock Exchanges to notify brokers, amend bye-laws for uniformity, and report implementation status to SEBI. The directive is issued under Section 11(1) of the SEBI Act, 1992.
Text
it has been decided to make the aforesaid circulars effective from April 01, 2018. Other provisions shall remain unchanged and no further extension shall be granted for the implementation of the said circulars.
bring the provisions of this circular to the notice of the Stock Brokers and also disseminate the same on their websites
make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above directions in co-ordination with one another to achieve uniformity in approach
communicate to SEBI, the status of the implementation of the provisions of this circular in their Monthly Development Reports.
This circular is issued in exercise of the powers conferred by Section 11 (1) of Securities and Exchange Board of India Act, 1992 to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market.
Source: SecMarx — Prevention of Unauthorised Trading by Stock Brokers. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.