The Hindu Business Line : SEBI suspends 578 brokers’ registration

Mumbai, Aug. 11 The Securities and Exchange Board of India has suspended registrations of 578 stockbrokers for defaulting on payment of registration fees.

The suspension is for six months or till the outstanding fees are cleared.

The order will come into force on the expiry of 21 days from the date of the order, SEBI said.

In August 2005, the regulator had appointed officers to conduct investigations against those 578 brokers who had defaulted in the payment of registration fees.

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