SEBI suspends registration of 227 defaulting brokers
Published on Thu, Nov 05, 2009 at 10:56 | Source : NewsWire18
Updated at Thu, Nov 05, 2009 at 11:09
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SEBI suspends registration of 227 defaulting brokers
Securities and Exchange Board of India has decided to suspend the registration certificates of 227 defaulting stock brokers for six months or till the time they do not fully pay up their outstanding registration fees, whichever is later.
Reported by Leena Dagade, edited by Sandeep Deshmukh/NewsWire18
Securities and Exchange Board of India has decided to suspend the registration certificates of 227 defaulting stock brokers for six months or till the time they do not fully pay up their outstanding registration fees, whichever is later. The certificates of registration of these stock brokers as sub-brokers of subsidiaries of stock exchanges also shall remain suspended accordingly, the capital market regulator said in its order dated October 29, which would come into force within 21 days. The regulator had directed stock exchanges to take necessary action against the brokers. In August 2005, SEBI had initiated proceedings against brokers who had defaulted in registration fees payment.
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