Mumbai: Market regulator SEBI on Thursday said it
has suspended registration of 578 stock brokers of various
stock exchanges for six months for default in payment of
registration fees.
"SEBI has passed an order dated August 10, suspending the
certificates of registration of 578 stock brokers of various
stock exchanges for a period of six months or till such time
the outstanding registration fees is fully paid, whichever is
later," the regulator said in a statement.
The order against the brokers, including Right Finstock,
Mardia Securities, Prudential Share Broking, Glory Fincap,
Tandem Securities, and Phoenix Shares, would come into force
on the expiry of 21 days from the date of the order, it said.
"Consequently, the certificates of registration of these
stock brokers and sub-brokers of subsidiaries of stock
exchanges shall also remain suspended," the Securities and
Exchange Board of India (SEBI) said.
Bureau Report
First Published: Thursday, August 13, 2009, 22:37