Crackdown! This is what SEBI plans to do to prevent default by brokers
In order to ensure that a corrective action is taken before any actual incidence of stock market brokers' default happens, market regulator Securities and Exchange Board (SEBI) of India has devised a plan. The move comes amid a rising number of broker default cases being reported that have hurt the interest of investors
The new directions are being taken on the back of increasing number of defaults by the brokers being reported and especially after investors faced problems due to default by Karvy Stock Broking. Source: Reuters