Under the new rules, SEBI plans to raise the bar for APs by requiring them to hold at least a graduate degree, and have at least three years of market experience.
The Securities and Exchange Board of India is preparing a proposal of stricter eligibility norms for Authorized Persons, who operate on behalf of brokers. The upcoming regulations will impose increased liability on brokers for defaults made by their sub-brokers, according to people familiar with the matter. Under the new rules, SEBI plans to raise the bar for APs by requiring them to hold at leasst a graduate degree, and have at least three years of market experience. It is al…