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SEBI Cancels 11 Research Analyst Licenses Over Unpaid Fees
21 Jul
Summary
- SEBI cancelled 11 research analyst registrations for non-payment of renewal fees.
- The move aims to remove inactive intermediaries and prevent misuse of licenses.
- The cancellations follow summary proceedings initiated by the regulator.
The Securities and Exchange Board of India (SEBI) has cancelled the registrations of 11 research analysts due to non-payment of mandatory renewal fees. This decisive action targets the removal of inactive intermediaries and aims to prevent the misuse of expired regulatory licenses. The cancellations ensure that only entities with active registrations can operate within the securities market.
Among the affected entities are 24 Carat Financial Services, Lakshmishree Investment & Securities Pvt. Ltd., PCS Securities Ltd., and Bansal Finstock Pvt. Ltd., along with seven individual analysts. SEBI initiated summary proceedings after the renewal fees, required every five years, remained unpaid for varying periods, some dating back to 2020.
SEBI clarified that these cancellations do not nullify any liabilities incurred while the entities were registered. They are directed to preserve records, resolve pending investor grievances, and ensure the continuity of obligations. The move underscores SEBI's commitment to maintaining market integrity and transparency.
