1. SEBI vide Circular SEBI/HO/MIRSD-PoD-1/P/CIR/2023/24 dated February 06, 2023 and para 18 of Master Circular for Stock Brokers dated May 17, 2023 inter-alia stated the four parameters for designating a stockbroker as Qualified stock brocker (QSB) and based on these parameters,the first list of QSBs was issued by stock exchanges on March 03,2023.
2. To further protect the interest of investors and for building trust in the securities market, it has been decided to extend the framework of QSBs to more stockbrokers. Henceforth, the revised list of QSBs shall be calculated by considering the parameters as specified in the circular.
3. The values shall be calculated on an annual basis and the revised list of QSBs shall be released jointly by stock exchanges, in consultation with SEBI. For calculating the values for a particular year, parameters as on December 31st of such year shall be considered.
4. The provisions of the circular shall come into force in a risk-based, staggered manner to ensure smooth adoption and effective implementation for all the QSBs by providing enough time for them, based on their size, for making necessary changes.
Link of the Circular:
