REGULATORY · COMPETITIVE · INDIA
SEBI settles enforcement proceedings against 111 brokers
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SEBI settled and closed enforcement proceedings against 111 stockbrokers under the Settlement Scheme on Association with Certain Algo Platforms, 2025, with each broker paying ₹1 lakh.
Why it matters
SEBI closed adjudication proceedings for 111 brokers through the 2025 Settlement Scheme, which allowed eligible brokers to settle pending proceedings by paying a fine without admitting or denying guilt. The scheme’s window opened June 16, 2025 and was extended to October 16, 2025. Each participating broker paid ₹1 lakh, producing total collections of ₹1.11 crore. The settled group spans major, mid-sized, and regional brokerages; SEBI’s probe had identified API integrations with 122 registered brokers. SEBI retained the right to revoke settlements if misrepresentation or breaches of settlement conditions are later established.
Implications · Who is affected · What to watch
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Regulatory & Compliance Regulatory Actions Compliance Finance & Banking Financial Services