The Financial Sector Legislative Reforms Commission (FSLRC), made under Justice B. N. Srikrishna, made some far reaching recommendations, many of which came under criticism from various sections. The report called for a radical overhaul of the financial architecture.
While the issue has always been a crucial one, it was generally neglected and ignored. But the Srikrishna Commission (FSLRC) revived the issue to life.
A Broker is a registered member of a stock exchange, who buys or sells shares and securities on his clients’ behalf and charges a commission. Such broker are called Commission Brokers.
There are also brokers who offer services, like investment advise, client’s portfolio planning, credit when a client is buying on margin, and similar services, which are different from their traditional commission based jobs. Such brokers are called Full Service Brokers.