The Securities Exchange Board of India (SEBI) on February 06, 2023, issued a circular regarding the Enhanced obligations and responsibilities of qualified Stock Brokers (QSBs). The provisions of this circular shall come into effect from July 01, 2023. It has laid down the Parameters for designating a stock broker as QSB and the Procedure for assigning a score to a stock broker:
The framework pertaining to the identification of the QSBs has been extended to more stock brokers in due course by considering the following additional parameters namely: –
a) compliance score of the stock brokers.
b) grievance redressal score of the stock brokers.
c) the proprietary trading volumes of the stock brokers.