SEBI Deregisters Stockbroker For Mismanagement Of Clients Funds, Securities

SEBI deregisters stockbroker for mismanagement of clients' funds, securities

The stockbroker violated regulatory norms during the period April 2015 to January 2018.

New Delhi:

The Securities and Exchange Board of India has canceled the registration of stockbroker Fix Security for mismanagement of clients’ funds and securities. In an order issued on Friday, SEBI said that the stock broker violated regulatory norms during the period April 2015 to January 2018.

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The market regulator observed that Ficus has on several occasions used the securities of its clients for its own payments and also transferred the securities of clients to other entities. On this basis, SEBI has canceled the certificate of registration of ‘Fix Security Private Limited’. This instruction is applicable with immediate effect.

(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)

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