On 24-7-2023, the Securities and Exchange Board of India (‘SEBI’) notified the Securities and Exchange Board of India (Stock Brokers) (Second Amendment) Regulations, 2023 to amend the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992. The provisions came into force on 24-7-2023.
Rule 10-A relates to Application for Registaration of Clearing Members. It provides that to act a Clearing Member, one should obtain a certificate of registration from the Board.
A new Provision has been inserted providing that no separate registration shall be required for any person registered with the limited purpose clearing corporation as a participant for participating in the tri-party repo segment for undertaking proprietary trades in corporate bonds.