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Mumbai, Oct 26: Finance minister P Chidambaram had recently underlined the need and importance of self-regulatory organisations (SROs), and now it seems that the country’s broking community might soon become an SRO.
The Association of NSE Members of India (Anmi), which has been striving hard to get the status of an SRO, has changed its Memorandum and Articles of Association to include broker members of the Bombay Stock Exchange (BSE). The association has already filed an application with the Registrar of Companies (RoCs).
Anmi president Vijay Singhania told FE, “Anmi has been working hard to become an SRO and the decision makers are of the view that there should be only one SRO for both the exchanges, BSE and NSE. Hence, we have made the necessary changes in our Articles of Association to include members of BSE. These changes have been approved in the last AGM held in September. The new association will be called Association of National Exchange’s Members of India.”
Further, to make things easier for the BSE brokers to become members of Anmi, the admission fees have been waived, he added.
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