46 brokers fail to meet Sebi norms, lose registration

New Delhi, August 30

Capital markets regulator Sebi on Friday cancelled the registration of 39 stock brokers and seven commodity brokers after they failed to meet the registration requirements.

Additionally, the regulator cancelled the registration of 22 depository participants who are no longer affiliated to any depository.

The main reason for cancelling the registration certificate of these entities, is to prevent them from misusing their Sebi registration without being an active participant of a depository or a member of a recognized stock exchange, thereby protecting unaware investors, the regulator said in three separate orders.

The 39 stock brokers whose registrations have been cancelled include Bezel Stock Brokers, Reflection Investments, Sumpoorna Portfolio, Vineet Securities, Quantum Global Securities, Wellindia Securities, Vrise Securities, Credential Stock Brokers, Aanya Commodities, Amber Solutions, Arcadia Share & Stock Brokers and C.M. Goenka Stock Brokers, Destiny Securities.