On February 23, 2022, the Securities and Exchange Board of India (SEBI) has issued the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992.


Key amendments:

  • New clause (ca) defining ‘professional clearing member’ has been inserted:

“professional clearing member means a member having clearing and settlement rights in any recognized clearing corporation, but not having trading rights in any recognized stock exchange.”

  • Schedule V, Part A Clause(i) which specify “Applied to stock brokers in cash segment” clause 1B has been inserted namely: –

This schedule shall apply to every stock broker who deals in electronic gold receipt segment and every clearing member/self-clearing member who clears and settles trades in electronic gold receipt segment, from the date of grant of registration.

  • Schedule 5, Clause 5 which specify ‘Every recognized stock exchange shall collect from every stock broker in cash segment, the fee payable” has been substituted with the following:

“The quantum of net worth to be maintained by the stock broker/clearing member, as specified in Table 1 of this Schedule, shall be reckoned for all segments/stock exchanges.”

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