SEBI Cracks Down: 68 Registrations Cancelled to Protect Investors

The Securities and Exchange Board of India (SEBI) has cancelled the registrations of 39 stock brokers, seven commodity brokers, and 22 depository participants for failing to meet necessary regulatory requirements. This action aims to prevent misuse of SEBI registration and ensure investor protection. Despite cancellations, these entities remain liable for past actions and dues.

In a significant regulatory move, the Securities and Exchange Board of India (SEBI) on Friday cancelled the registrations of 39 stock brokers and seven commodity brokers for not meeting registration criteria.

The cancellations also extended to 22 depository participants who no longer hold affiliations with any depository. SEBI emphasized that the decision aims to prevent the misuse of its registration and protect uninformed investors.

Despite having their registrations withdrawn, these entities remain accountable for any past actions or dues to SEBI, the regulatory body clarified.

(With inputs from agencies.)