Amendment to the Securities and Exchange Board of India (STP Centralised Hub and STP Service Providers) Guidelines, 2004
Summary
SEBI has amended the Securities and Exchange Board of India (STP Centralised Hub and STP Service Providers) Guidelines, 2004. The amendment inserts a new sub-clause requiring applicants to be fit and proper persons based on criteria in Schedule II of the Intermediaries Regulations, 2008. This circular was issued under Section 11(1) of the SEBI Act, 1992, and came into force with immediate effect.
Text
The Board has amended the sub-clause (2) of the clause 3 of the Guidelines by inserting the following new sub-clause, namely,- “iii. whether the applicant is a fit and proper person based on the criteria specified in Schedule II of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.”
The aforesaid amendment shall come into force with immediate effect.
This Circular is issued in exercise of the powers conferred under sub-section (1) of Section 11 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.
Source: SecMarx — Amendment to the Securities and Exchange Board of India (STP Centralised Hub and STP Service Providers) Guidelines, 2004. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.