Which agency framework replaced the separately registered sub-broker category for agents of Indian stock brokers?
Question and options
Which agency framework replaced the separately registered sub-broker category for agents of Indian stock brokers?
Mutual fund trustee framework
Depository participant framework
Debenture trustee framework
Authorised Person framework
Answer and explanation
Correct answer: D - Authorised Person framework
SEBI discontinued sub-brokers as a separately registered category in 2018-19, and former sub-brokers could continue as Authorised Persons of a registered stock broker or become trading members themselves. Debenture trustees, depository participants and mutual fund trustees are separate intermediaries.
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