SEBI suspends 73 brokers

Agencies
Posted: Tuesday, Mar 09, 2010 at 2051 hrs IST
Updated: Tuesday, Mar 09, 2010 at 2051 hrs IST

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Mumbai: Market regulator SEBI has suspended 73 brokers from various stock exchanges for defaulting on payment of registration fees.

"SEBI has passed two orders... suspending the certificates of registration of 17 and 56 stock brokers respectively of various stock exchanges till the time outstanding registration fees are fully paid," the Securities and Exchange Board of India said in a release.

These brokers include those from BSE, NSE, OTCEI, Cochin and Vadodara.

"Consequently, the certificates of registration of these stock brokers operating as sub-brokers of subsidiaries of Stock Exchanges... shall also remain suspended accordingly," SEBI said.

The order was passed on March 8 and would come into force on the expiry of 21 days.

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