Sebi gives Rs 242-cr relief to BSE brokers
Mumbai: After the Supreme Court recently dismissed a petition filed by the BSE Brokers Forum against Sebi’s decision to charge turnover-linked registration fee, member brokers would be now benefited with a relief of Rs 242 crore in the registration fee payable to Sebi for the last five years. Based on the recommendations of a Sebi-appointed R S Bhatt Committee, the members of the stock exchanges would have to now pay registration fee at 0.01 per cent of turnover or Rs 1,000 on a turnover of Rs 1 crore for a five-year period.
Sebi had appointed a four-member committee under chairmanship of R S Bhatt to look into registration fee payable by stockbrokers. The committee has recommended reduced fee of 0.005 per cent on jobbing transactions.
The estimated relief of Rs 242 crore to the BSE brokers is based on estimates of the Bhatt Committee. The BSE Brokers Forum has estimated total liability of only Rs 46 crore (equity and debt market) payable by around 500 brokers in the form of registration fee.
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