In a breakthrough for retail investors, concerted action by hundreds of victims of a failed brokerage firm is holding regulators accountable and focusing sharper attention on the lapses of clearing members and intermediaries. They are getting far better results than individual complaints with...
The market regulator today admitted that investor protection fund (IPF) with stock exchanges is 'woefully insufficient'. Mr Ajay Tyagi, chairman of the Securities and Exchange Board of India (SEBI) said this in response to a media query at a event organised by the Confederation of Indian...
In a 60-page order issued on 20th October, the NSE Clearing Ltd/ National Stock Exchange (NSE) has asked Edelweiss Custodial Services Ltd to credit Rs460 crore that was provided as a bank guarantee by Anugrah Stock & Broking Pvt Ltd (Anugrah) to an escrow account. Following an investigation,...
Close on the heels of several brokerages shutting shops, Mumbai-based Action Financial Services (India) Ltd (AFSL), a listed company, has also closed its business as stock trading member. While AFSL has disabled its terminals from 18 September 2020, several of its clients are clueless about...
Investors of Modex International, a brokerage firm, which has apparently duped investors of around Rs100 crore can finally hope to get some money from stock exchange investor protection funds. Although the largest default was on the National Stock Exchange (NSE), the Bombay Stock Exchange...
