SEBI on May 17, 2023 has issued a Master Circular for Stock Brokers. The master circular provides that Stock Exchanges shall verify the antecedents of the applicant seeking registration as stock broker before granting admission as a member of Stock Exchange and also submit a declaration at the time of forwarding the applications for registration with SEBI, to the effect that the member has not been convicted of any offence involving fraud or dishonesty.
