Jio BlackRock Broking receives Sebi approval to commence brokerage business
Jio BlackRock Broking
Pvt Ltd. has received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as a brokerage firm in India. The company is a wholly owned subsidiary of
Jio BlackRock Investment Advisers
.
The company aims to bring affordable, transparent, and technology-driven execution capabilities for
Indian investors
. The broking entity's parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between
Jio Financial Services Limited
and
BlackRock Inc.
(BlackRock).
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Along with the recent regulatory approvals received by Jio BlackRock Asset Management Private Limited and Jio BlackRock Investment Advisers to commence operations, receipt of the broking license enables the Jio BlackRock joint venture to offer holistic investment solutions to the people of India, said a release.
'We are delighted to receive SEBI's final approval for JioBlackRock Broking, which moves us closer to contributing to India's continued evolution from a nation of savers to a nation of investors. With JioBlackRock Investment Advisers, we will be able to offer personalised advice to retail investors. Now with brokerage, we will also bring an execution platform for self-directed investors,' said Marc Pilgrem, Managing Director and CEO of Jio BlackRock Investment Advisers Private.
'These are exciting times for us. Even as Jio BlackRock's Asset Management arm introduces innovative mutual funds to the market, and JioBlackRock Investment Advisers prepares to launch operations, the approval for the broking entity adds another dimension to our strategy of democratising investments in India, through easily accessible and digital-first solutions,' said Hitesh Sethia, Managing Director and CEO, Jio Financial Services.
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'Jio BlackRock was founded to provide tech-enabled access to capital markets, and affordable, innovative investment solutions, to millions of investors in India. This third approval from SEBI completes the range of offerings of our joint venture. Through these three entities, JioBlackRock will provide a full suite of investment services, enabling Indian investors to work towards their financial goals,' said Rachel Lord, Head of International at BlackRock.
Last month, JioBlackRock Asset Management received
SEBI approval
to commence its mutual fund business.
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