SEBI cuts fees payable by brokers by 25%
Published: Jan 16, 2017
TIOLCORP News Service
MUMBAI, JAN 16, 2017: SEBI has been following the practice of calibrating the fees either upwards or downwards as per SEBI's requirements from time to time so as to keep a balance between the financial resources required to ensure regulatory efficiency while maintaining reasonableness to avoid any undue burden on any particular class of intermediaries. projected income and expenditure of SEBI for the next three financial years, the Board decided to reduce the fees payable by broker by 25%, i.e. from Rs.20/- per crore of turnover to Rs.15/- per crore of turnover. This will result in reduction of overall cost of transactions and will benefit the investors and promote the development of securities market.
The Board also decided to align the fees payable under SEBI (Buy-back of Securities) Regulations, 1998 with the fee payable under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. It was also decided to introduce filing fee for draft scheme of arrangement and processing fee for application seeking relaxation under Regulation 113 of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. The fee charged under Regulation 11 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 has been revised to Rs.5.00 lakhs from Rs.3.00 lakhs.
