Sebi cancels registration of 39 stock brokers, seven commodity brokers

MUMBAI: The markets watchdog Sebi has cancelled the registration of as many as 39 stock brokers and seven commodity brokers for not meeting their registration requirements apart from cancelling the registration of 22 depository participants who aren’t affiliated with any depositories.

The main reason for cancelling their registration certificates is to prevent them from misusing their Sebi registration, thereby protecting unaware investors, the regulator said in three separate orders on Friday.

The 39 stock brokers whose registrations were cancelled include Bezel Stock Brokers, Reflection Investments, Sumpoorna Portfolio, Vineet Securities, Quantum Global Securities, Wellindia Securities, Vrise Securities, Credential Stockbrokers, Aanya Commodities, Amber Solutions, Arcadia Share & Stockbrokers and CM Goenka Stockbrokers and Destiny Securities among others.

The seven commodity brokers with now cancelled registrations are Wealth Mantra Commodities, Sumpoorna Comtrade, Chaitanya Commodities, BVK Pulses Online Trading Company, Infonic India Financial Services, Financial Leaders Commodities and Wellindia Commodities Integrated Stock Broking Services.