Regulatory Alerts2016-01-01
Securities (Brokerage Fees for Exchange Traded Funds on Foreign Underlyings) (Amendment) Rules 2016
The Financial Services Commission issued these 2016 amendment rules to revise brokerage fee structures for investment dealers trading exchange traded funds (ETFs) on foreign underlyings. The rules introduce a formal definition for debt securities and establish tiered fee schedules based on transaction values, applying a Rs 75,000 threshold to determine whether fixed or percentage-based rates apply. Updated schedules precisely allocate total brokerage fees among investment dealers, securities exchanges, the Commission, and the Central Depository System, taking effect on 4 April 2016.
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