NSE Bars Angel One From Onboarding New Authorised Persons Over F&O Violations
National Stock Exchange of India Ltd. passed an order against stockbroker company Angel One Ltd. in respect of an alleged failure to monitor the operations of its Authorized Persons.
The exchange has passed an order over alleged violation of the Capital Market Segment Regulations and Futures and Options Segment Regulations of the Exchange.
Authorised persons are the market intermediaries who act as the contact point between the investors and the stockbrokers to facilitate the entire investment process for investors. They help match trades with available best quotes for investors.
The directions issued to the Company include a monetary penalty of Rs 1.66 crore. The broker is also prohibited from onboarding new Authorised Persons for a period of six months from the date of the order and to conduct an inspection of all its APs and submit a report to the satisfaction of the Exchange within a period of six months from the date of the order.
It is to be noted that the order does not affect the existing business or the activities of the APs affiliated with the company, said Angel One in stock exchange disclosure adding that it is evaluating various options available including filing an appeal against the NSE order.
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