The Securities and Exchange Board of India vide notification dated 23rd February, 2022 has issued Securities and Exchange Board of India (Stock Brokers)(Amendment) Regulations, 2022. It is provided that only amember having clearing and settlement rights in any recognized clearing corporation, but not having trading rights in any recognized stock exchange can act as a clearing member.
The amendment also provides the quantum of networth and deposit to be maintained by the trading member/ selfclearing member/ clearing member/ professional clearing member, the manner of computation of networth and manner of depositing client’s funds.
