SEBI suspends 121 brokers with immediate effect
Mumbai: The Securities and Exchange Board of India has suspended, with immediate effect, the registration of 121 stock brokers for six months. Majority of the brokers (89) are members of the Cochin Stock Exchange while 22 are members of the Ahmedabad Stock Exchange. Eight brokers are from the Guwahati Stock Exchange while two are from Madras Stock Exchange respectively. The decision has been taken after a SEBI inquiry found the brokers guilty of violating the provisions of SEBI regulations in not paying the required fees.
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