SEBI deregisters stockbroker for mismanagement of money securities of clients
In an order issued on Friday, SEBI said that the stock broker violated regulatory norms during the period from April 2015 to January 2018.
The market regulator observed that Ficus has on several occasions used the securities of its clients for its own payments and also transferred the securities of clients to other entities.
On this basis, SEBI has canceled the certificate of registration of ‘Fix Security Private Limited’. This instruction is applicable with immediate effect.