MORE COCKROACH ON THE SYSTEM - SEBI WORRIED
SEBI cancels registration of stock broker Click2Trade Capital
The regulator, which initiated enquiry proceedings against Click2Trade in respect of alleged violation of stock brokers norms, found that the entity failed to segregate its own transactions from that of its clients, reported incorrect margin and used client bank accounts for other than specified purposes.
Markets regulator SEBI has cancelled the registration of Click2Trade Capital as it “grossly” failed in performing its duties as a stock broker and made serious lapses in maintaining infrastructure and did not redress investor grievances.