India, May 2 -- With an eye on spurring the ease of doing business in Gujarat International Finance Tec-City (GIFT), SEBI today exempted regulated stock brokers from seeking prior approval before undertaking "securities market-related activities" at the International Financial Services Centre (IFSC).

In a circular, the market regulator said that stock brokers looking to offer their services can do so under a separate business unit (SBU) of the stock broking entity itself. "These activities can also be carried out if the branch qualifies as an SBU," SEBI added, without elaborating further.

The regulator said that the existing practice of carrying out securities-market related activities in GIFT-IFSC through a subsidiary will also be allo...