CA final - members of stock exchange

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rashmi (Querist)
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29 June 2011 please help me with the following.

1) does becoming a member of stock exchange mean that u are registered with SEBI?

2) who is a sub broker? is it compulsory for the sub- broker to be a member of the stock exchange?

CS Bijoy

CS Bijoy (Expert)
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29 June 2011 According to me yes its right every member should registered with SEBI.

Sub broker means the the person working under the Broker and registered with SEBI as sub broker and also required to pass an exam.

rashmi

rashmi (Querist)
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29 June 2011 so it means sub broker is a person who works under a member(share broker) of stock exchange.

sub broker need not be a member of the stock exchange???

CA Amit Talada

CA Amit Talada (Expert)
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04 July 2011 No...sub broker cannot be a member of stock exchange...if he is member of stock exchange then then he is broker....he cannot b broker and sub broker simultaneously.....and he is registered with the stock exchange......

and member broker has to be registered with SEBI and stock exchange.....

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