The Securities and Exchange Board of India (STP Centralised Hub and STP Service Providers) Guidelines, 2004 (Guidelines) were issued vide Circular No. DNPD/Cir24/04 dated May 26, 2004, to regulate the services and infrastructure set-up in respect of Straight Through Processing (STP).
The Securities and Exchange Board of India (SEBI) has amended the Clause 3(2) of the Guidelines by inserting the following new sub-clause, namely,-
“iii. whether the applicant is a fit and proper person based on the criteria specified in Schedule II of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.”
The aforesaid amendment shall come into force with immediate effect.