SEBI replaced 'penalty' with 'financial disincentive' to ease compliance for brokers. Under the existing system, brokers with memberships across multiple exchanges faced differing or multiple penalties. The new framework mandates that in cases of overlapping violations, only a lead exchange will impose the penalty on the broker, thus avoiding multiple levies for the same violation.
short by
Shristi Acharya /
09:10 pm on
10 Oct