Angel One's Regulatory Settlement: A Case of Compliance Costing Crores

Angel One, a brokerage firm, has settled a regulatory violation case with Sebi for Rs 5.74 crore without admitting or denying any wrongdoing. This settlement includes resolving adjudication proceedings linked to alleged breaches of stockbroker norms and various Sebi regulations. Angel One has updated its compliance measures accordingly.

In a significant development, brokerage firm Angel One has resolved a regulatory violation case with the Securities and Exchange Board of India (Sebi) by paying Rs 5.74 crore in settlement charges. The settlement does not imply an admission of guilt or denial of past actions.

The proceedings were initially brought against Angel One for alleged breaches of the Securities Contracts (Regulation) Act and related intermediary regulations. Show cause notices had been issued to the firm on March 12, 2024, outlining the accusations of non-compliance with stockbroker norms and various Sebi mandates.

Having submitted revised settlement terms and corrective action plans, Angel One has completed the settlement process with Sebi. This follows the firm's prior settlement of a front-running case in September, where they paid Rs 21.64 lakh in settlement charges.

(With inputs from agencies.)