The Securities and Exchange Board of India (Sebi) already gives permanent registration to stock brokers and sub-brokers subject to their compliance with certain requirements.
The proposal to grant permanent registration to 11 more categories of market intermediaries was cleared by Sebi's board during its meeting here today.
Apart from merchant bankers and investment advisers, permanent registration would be granted to registrar to an issue and share transfer agent, bankers to an issue, underwriters, credit rating agency and debenture trustee.
In a release, Sebi said the decision has been taken based on experience gained and in order to facilitate ease of doing business for market intermediaries.
Also Read
For registration of market intermediaries, the regulator has a two-step process. Initially, registration is given for a three to five years before giving the permanent one.
The decision to provide permanent registration to the 11 categories of market intermediaries has been taken by the board after taking into account the regulator's strict supervisory mechanism that is in place.
Stock brokers and sub-brokers are granted permanent registration provided they comply with applicable rules and regulations, fit and proper criteria, redresses investor grievances and have required capital adequacy, among other requirements.
Disclaimer: No Business Standard Journalist was involved in creation of this content