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The Department of Economic Affairs (DEA), Ministry of Finance, amended Rule 8 of the Securities Contracts (Regulation) Rules (SCRR), 1957, via Gazette Notification G.S.R. 318(E).
According to the Ministry of Finance, the amendment gives regulatory clarity to enhance the ease of doing business for brokers. After taking note of the concerns raised by various stakeholders over certain provisions in the said Rules, the Department had released a Consultation Paper in September 2024, inviting stakeholder comments. Given the growth in the scale and interconnectedness of the financial sector and the evolution of brokers' business nature over time, the Department felt it necessary to review the appropriateness of safeguards embedded in the Rules so that the intent of the Rules is served without constraining the activities of the stakeholders. The finance ministry said that the amendment has been carried out after due consideration of feedback from the stakeholder and is part of the broader emphasis of the Government to provide regulatory clarity and enhance ease of doing business in the financial sector. "It will ensure that market intermediaries continue to support the development of India's capital markets in a transparent and well-regulated manner," the finance ministry added. (ANI)
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