The National Stock Exchange (NSE) on July 19, 2024, notified regarding the Measures to instill trust in the securities market - Expanding the framework of Qualified Stock Brokers (QSBs) to more stock brokers.
The following has been stated:
• The stock brokers designated as voluntary QSB by Exchange shall comply with the enhanced obligations and responsibilities as specified in SEBI Circular No. SEBI/HO/MIRSD/MIRSDPoD-1/P/CIR/2023/24 dated February 06, 2023, and discharge additional responsibilities as specified in Comprehensive Operating Guidelines issued vide Exchange Circular No. NSE/INSP/56927 dated June 01, 2023, w.e.f. September 01, 2024, for a period of 1 year. Further, they shall continue to comply with the enhanced obligations and responsibilities for an additional period of 3 financial years or such time, as may be prescribed by the Exchange, in consultation with SEBI.
• The Revised list of Qualified Stock Brokers (QSBs) is enclosed herewith as Annexure A (list is in alphabetical order and is not indicative of ranking). This revised list of Qualified Stock Brokers supersedes the list of QSBs as prescribed in earlier Exchange Circular No. NSE/INSP/61213 dated March 19, 2024.
• The Stock Brokers designated as QSBs vide Exchange Circular No. NSE/INSP/55875 dated March 03, 2023, and included in the revised list attached as Annexure A, shall continue as QSB and comply with the enhanced obligation and responsibilities defined in the above-mentioned circulars. The new QSBs included in the revised list shall comply with the said enhanced obligations and discharge responsibilities w.e.f. September 01, 2024.
• The Stock Brokers designated as QSBs vide Exchange Circular No. NSE/INSP/55875 dated March 03, 2023, and not included in Annexure A of this circular, shall continue to comply with the enhanced obligations and responsibilities, for an additional period of 3 financial years or such time, as may be specified by the Exchange, in consultation with SEBI.
• All applications for voluntary designation as QSB may be submitted to [email protected] latest by July 31, 2024.
[Notification No NSE/INSP/63011]
