To discontinue with Sub-Broker as an intermediary to be registered with SEBI.
As mentioned in the aforesaid circulars, SEBI Board in its meeting held on June 21, 2018 decided to discontinue with Sub-Broker as an intermediary to be registered with SEBI. It also granted time till March 31, 2019 for migration of Sub Brokers to APs, failing which such SubBrokers shall be deemed to have surrendered their registration w.e.f. March 31, 2019.