Sebi considers easier IFSC access for brokers operating from Gift City

The Securities and Exchange Board of India (Sebi) is considering a proposal to permit registered stock brokers to operate in the International Financial Services Centre (IFSC) at Gift City, Gujarat, without the need for prior approval.

 

In a consultation paper released on Friday, Sebi outlined plans to allow stock brokers to conduct securities market activities in Gift-IFSC through a separate business unit (SBU). Currently, brokers require a no-objection certificate (NOC) from Sebi to establish subsidiaries or joint ventures for operations in Gift City. Under the new proposal, brokers can set up an SBU on an arm’s-length basis, bypassing