SEBI inserts definition of ‘Professional clearing member’ vide SEBI (Stock Brokers) (Amendment) Regulations, 2022: SEBI

On February 23, 2022, the Securities and Exchange Board of India (SEBI) 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.
The Key amendments comprises of:
● A new clause (ca) defining ‘professional clearing member’ has been inserted
● Schedule V, Part A Clause(i) which specify “Applied to stock brokers in cash segment” clause 1B has been inserted
● 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 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.”