What aspects SEBI shall take into account before granting a certificate of registration to a broker under SEBI (Stock Brokers & Sub-Brokers) Regulations, 1992 for admission on any Stock Exchange.

Answer 6 SEBI (Stock Brokers & Sub-Brokers) Regulations, 1992 now known as SEBI (Stock Brokers) Regulations, 1992 contains Regulations 3 to 10 which deal with registration of stock brokers. An application by a stock broker for grant of a certificate of registration shall be made to SEBI through stock exchanges, of which he is admitted as a member. SEBI shall take into account the following aspects before granting a certificate: Whether the stock broker is eligible to be admitted as a member of a stock exchange. Whether he has the necessary infrastructure like adequate office space, equipment and manpower to effectively discharge his activities. Whether he has any past experience in the business of buying, selling or dealing in securities. Whether he was subjected to disciplinary proceedings under the rules, regulations and bye-laws of a stock exchange with respect to his business as a stock broker involving either himself or any of his partners, directors or employees; and Whether he is a fit and proper person.