In order to facilitate ease of doing business, Sebi has notified rules to provide permanent registration to merchant bankers, investment advisers, research analysts and eight other categories of market intermediaries. The Securities and Exchange Board of India (Sebi) already gives permanent registration to stock brokers and sub-brokers subject to their compliance with certain requirements.
The proposal to grant permanent registration to 11 more categories of market intermediaries follows an approval by Sebi in its board meeting in September. Apart from merchant bankers and investment advisers, permanent registration would be granted to registrar to an issue and share transfer agent, bankers to an issue, underwriters, credit rating agencies and debenture trustees.
The facility has also been extended to depository participants, KYC registration agencies, portfolio managers and research analysts. The decision will help in facilitating ease of doing business for market intermediaries.