Securities and Exchange Board of India (Sebi) on July 1, 2024, directed stock exchanges, depository participants and clearing members to levy charges uniformly from all its members regardless of the volume of activity they generate. Market Infrastructure Institutions are directed to comply with these rules by October 1, 2024. Further Sebi placed the onus on MIIs to make sure that the charges levied by their members on end clients are true to label.True to label directive means that MIIs should ensure that they receive the entire amount of charges levied on the end client by stockbrokers, depository participants, and clearing members. Sebi explained, “It has also been observed that members generally recover such charges from the end clients daily whereas MIIs receive aggregate charges from the members every month. The aforesaid process can result in a situation wherein the aggregated charges collected by the members from the end clients are higher than the end-of-month charges paid to the MII (due to slab benefit). This can also result in an incorrect or misleading disclosure to the end client about the charges levied by MIIs.”
sekar nallalu Cryptocurrency,Equity Sebi Orders MII To Charge All Brokerages Uniformly: What Will Be Its Impact?
Related Posts
Shiba Inu Team Hints At Major Development To Boost SHIB Burn
Shiba Inu’s burn rate has skyrocketed by an astonishing 3800%, drawing attention from the crypto community. Notably, the optimism over[...]
Crypto Theft Mastermind Convicted in US for Home Invasions, Kidnappings, and Robberies – Legal Bitcoin News
A Florida man has been convicted in the United States for orchestrating an international scheme that involved violent home invasions[...]
As baseball honors Black history, Reggie Jackson recalls rac…
By Daniel Trotta(Reuters) – (This story contains racial slur in paragraph 2 and language that some readers might find offensive[...]