NSE Joint Press Release on list of designated Qualified Stock Brokers

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Joint Press Release on list of designated Qualified Stock Brokers (QSBs). Certain stock brokers, due to various factors like their size, trading volumes and amount of clients’ funds handled by them, occupy a significant position in the Indian securities market leading to concentration of activity among few stock brokers. In order to further strengthen the compliance and monitoring requirements relating to such stock brokers and to ensure efficient functioning of securities market. SEBI, vide Gazette Notification dated January 17, 2023, amended the SEBI (Stock Brokers) Regulations, 1992 for designating certain stock brokers as Qualified Stock Brokers (QSBs). Subsequently, SEBI vide circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/24 dated February 06, 2023 on “Enhanced obligations and responsibilities on Qualified Stock Brokers (QSBs)” has enumerated the parameters for designating certain stock brokers, as QSBs.

Accordingly, on the basis of the parameters defined in the aforesaid circular, certain stock brokers have been designated as QSBs. These QSBs shall be required to meet enhanced obligations and discharge additional responsibilities. Enhanced monitoring of QSBs shall be carried out by all Exchanges w.e.f. July 01, 2023.

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