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SEBI to formulate new norms for foreign brokers

The new set of rules will ensure that the intermediaries working in foreign markets maintain the high levels of compliance

May 20, 2013 4:24 IST | India Infoline News Service
Market regulator SEBI (Securities and Exchange Board of India) on Monday said that it is considering to form a new set of rules for foreign entities such as brokerage firms, hedge funds and other market intermediaries from abroad soliciting business from HNIs and other investors in India, according to a media report.

The new set of rules will ensure that the intermediaries working in foreign markets maintain the high levels of compliance, as required from the Indian entities, while dealing with the investors in the country, the report added.

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