Govt amends SCRA Rules to give regulatory clarity to brokers
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The government on Monday amended the Securities Contract (Amendment) Rules to give regulatory clarity and enhance ease of doing business for stock brokers. "Amendment gives regulatory clarity to enhance ease of doing business for brokers," the finance ministry said.In a statement, the ministry said that given the growth in the scale and interconnectedness of the financial sector and the evolution of nature of business of brokers with time, the Department of Economic Affairs (DEA) felt it necessary to review the appropriateness of safeguards embedded in the rules so that the intent of the rules is served without constraining activities of the stakeholders.The amendment has been carried out after due consideration of feedback from the stakeholders 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 ministry added.
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