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SEBI Cancels 25 Analyst Licenses for Fees
21 Aug
Summary
- SEBI revoked 25 research analyst registrations for non-payment of renewal fees.
- Karvy Stock Broking is among the entities whose registrations were cancelled.
- Analysts remain liable for past actions despite registration cancellation.
The Securities and Exchange Board of India (SEBI) has revoked the registrations of 25 research analysts due to their failure to pay required renewal fees. Notably, Karvy Stock Broking is among the entities affected by this regulatory action. The cancellations were enacted under SEBI's Intermediaries Regulations, 2008, following multiple notices to the entities regarding their overdue payments.
The market watchdog confirmed that these 25 entities, whose renewal due dates spanned from March 2020 to October 2025, did not provide sufficient evidence to contest the non-payment of fees. SEBI's order, issued on Thursday, explicitly states that these cancellations are intended to prevent the misuse of registration certificates that are no longer valid. Furthermore, SEBI clarified that the affected entities will continue to be held responsible for any actions or omissions that occurred while they were registered research analysts.
Entities such as Financial Leader Advisory Services, Finquest Securities, Sharewealth Securities, Jhaveri Securities, Ajay Gupta, Anurag Jain, Shian Capital, and Dipesh Mehta also had their registrations cancelled. The renewal fee is mandated every five years to maintain the validity of a research analyst's certificate.
