Brokerage house Angel One Ltd has said National Stock Exchange (NSE) has barred it from onboarding new authorised persons (APs) for six months and imposed a Rs 1.67 crore penalty for flouting norms.
Reacting to this, shares of Angel One plunged more than seven per cent in intra-day trade.
The Member and Core Settlement Guarantee Fund Committee of NSE passed an order on July 14 against the broking company for an alleged failure to monitor the operations of its APs, Angel One said in a regulatory filing to the stock exchanges on Saturday.
By doing so, it allegedly flouted the capital market segment rules and Futures and Options segment norms of the NSE.
As per the order, a monetary penalty of Rs 1.67 crore has been levied on the broking company. In addition, it has prohibited “from onboarding new APs for a period of 6 months”.
Authorised person means any — individual, partnership firm OR LLP — who is appointed as such by a stockbroker and who provides access to the trading platfor
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