Exchanges designate 15 stock brokers as QSBs with enhanced obligations

Additional responsibilities are in areas of financial stability, audit, related-party transaction, cyber security, risk management; enhanced monitoring of these QSBs to start on July 1

As directed by the Securities and Exchange Board of India (Sebi), the stock exchanges on Friday issued a list of 15 stock brokers being designated as Qualified Stock Brokers (QSB) which will be subject to enhanced obligations and responsibilities.

The list includes Zerodha, Angel One, 5paisa Capital, HDFC Securities, ICICI Securities, IIFL Securities, Jainam Broking, Kotak Securities, Motilal Oswal Financial Services, NextBillion Technology, Nuvama Wealth and Investment, Sharekhan, Anand Rathi Share and Stock Brokers, RKSV Securities, and Globe Capital Market

“These QSBs shall be required to meet enhanced obligations and discharge additional responsibilities. Enhanced monitoring of QSBs shall be carried