In order to check non-compliance of listing conditions, SEBI has asked stock exchanges to take measures like suspension of trading, imposition of monetary penalties of up to Rs 1 crore and moving the securities to restricted trading category. In a press release issued from Mumbai on Monday, SEBI has asked exchanges to impose penalties ranging from Rs 1,000 to Rs one crore depending on the violation of certain clauses of the listing agreement like non-submission or delay in submission of document related to the company's annual report, financial and shareholding details and corporate governance compliance report. It has further asked exchanges to create a new category 'Z' for trading of shares of such non-compliant listed entities wherein trades would take place in 'trade for trade' basis. Meanwhile, SEBI has further simplified the procedural requirements for registration of stock brokers and has decided to introduce a common registration certificate for different market segments. The regulator has, however asked the exchange to ensure that applicant, its directors, proprietor, partners and associates satisfy 'Fit and Proper Criteria' set by SEBI.