Seeking Guidance on Sub-Broker Plan Changes by Brokerage Firm

General
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Hi @nithin ,

I’m a sub-broker associated with a registered broking firm , and I’d really appreciate your perspective on something that’s recently affected us.

The firm has discontinued certain traditional brokerage plans without any prior notice or consultation with its sub-brokers. While the older clients remain under the existing plans, all new account openings are now restricted to the newer plans, which significantly alters the brokerage sharing structure that was originally agreed upon when I began the sub-brokership.

I wanted to understand — from an industry and regulatory standpoint — do broking firms have the right to make such unilateral changes without involving or informing their sub-brokers in advance?

Are there any SEBI or exchange guidelines that protect sub-brokers’ interests in such cases?

Would be grateful for your insights or direction on how best to address this situation.

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I have conflict of interest to say this, but yes brokers can change rules suiting their needs as regulators are also changing rules effecting their revenues unilaterally.
I am not defending if it is right or wrong but just saying they can amend rules, and how they communicate to their APs can be a matter of discussion .

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