Sebi's New Guidelines for Shared Contacts in Stock Brokerage

Sebi has updated its guidelines for stock brokers on the use of shared mobile numbers and email addresses among clients to enhance operational convenience. The revisions allow shared contacts for family members and specific non-individual clients, with necessary approval and amendments required from stock exchanges.

Sebi, the capital markets regulator, has revised guidelines concerning the use of shared mobile numbers and email addresses by stock brokers, aiming to enhance operational convenience for investors.

Effective immediately, Sebi's updated rules strive to balance regulatory compliance with operational flexibility, allowing shared contact details for clients in specific scenarios.

The changes accommodate family members and certain non-individual entities as long as appropriate approvals and resolutions validate the shared contact information, obliging stock exchanges to amend applicable bye-laws and regulations.

(With inputs from agencies.)