Sebi lowers broker fees by 25%; goes digital on all payments

January 14, 2017 19:00

To reduce overall cost of transactions, Sebi today decided to lower broker fees by 25 per cent to Rs 15 per transaction of Rs 1 crore as part of calibration of various other fees collected by the regulator from different market intermediaries.

The Sebi board has decided to give an option to all market intermediaries and companies to make their regulatory payments in digital mode. The move would help in speedy and easy transactions, while reducing failures due to payment gateway issues.

Besides, the board has approved a proposal to levy certain new charges, including filing fee for draft scheme of arrangements and processing fee on application for relaxation in certain regulations.

"Keeping this objective in mind and taking into consideration the projected income and expenditure of Sebi for the next three financial years, the board decided to reduce the fees payable by broker by 25 per cent from Rs 20 per crore of turnover to Rs 15 per crore of turnover," Sebi said in a statement after its board meeting.

It has been a long pending demand of broker and market participants.

"This will result in reduction of overall cost of transactions and will benefit the investors and promote the development of securities market," the regulator said.

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