Mumbai, Aug. 7 -- The National Stock Exchange (NSE) has proposed a major overhaul of the regulatory framework for Authorised Persons (APs), aiming to strengthen investor protection, improve supervision and make stock brokers more accountable for the activities of their authorised representatives.

The proposals have been released through a consultation paper, with public comments invited till August 27.

According to the consultation paper, the proposed changes have been prepared jointly by the exchanges in consultation with the Securities and Exchange Board of India (SEBI).

The paper states that the changes have been proposed "to strengthen supervision of Authorised Persons."

Under the proposed framework, individuals seeking to become ...