Corporate Updates – 15-10-2014


SEBI has introduced the Single registration for Stock Brokers & Clearing Members by amending the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992. Accordingly for the purpose of implementing the revised registration requirements, new set of guidelines are issued to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets. Further, all Stock Exchanges and Clearing Corporations are directed to make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision in co-ordination with one another.


RBI has issued clarification with regard to requirement of one proof of address whether permanent or current, as some banks are still insisting on submission of a proof of address for the current address even when a customer produces a proof of permanent address, which prevents many prospective customers, especially migrant workers, from opening bank accounts. Banks are again advised to ensure that customers are not unnecessarily asked to submit additional proofs of addresses for current addresses in cases where proofs of addresses for permanent addresses are already available with Bank.


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