 "Securities and Exchange Board of India, Sebi")
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
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