SEBI, vide notification dated June 27, 2024, has issued the SEBI (Stock Brokers) (Amendment) Regulations, 2024 amending the SEBI (Stock Brokers) Regulations, 1992. Chapter IVA is inserted providing for institutional mechanism for prevention and detection of fraud or market abuse. It elucidates upon the provisions pertaining to putting in place systems for surveillance of trading activities and internal control systems by stock brokers, the obligations of the stock broker and its employees in maintaining adequate surveillance systems, mechanism for escalation and reporting of suspicious activities, and establish implementation and maintenance of a documented whistle blower policy.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
