39 stock, 7 commex brokers, 22 DPs lose registration

THE markets watchdog Sebi has cancelled the registration of as many as 39 stock brokers and seven commodity brokers for not meeting their registration requirements apart from cancelling registration of 22 depository participants who aren't affiliated with any depositories.

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The main reason for cancelling their registration certificates is to prevent them from misusing their Sebi registration, thereby protecting unaware investors, the regulator said in three separate orders Friday.