SEBI suspends 73 brokers

Market regulator SEBI has suspended 73 brokers from various stock exchanges for defaulting on payment of registration fees.

8220;SEBI has passed two orders8230; suspending the certificates of registration of 17 and 56 stock brokers respectively of various stock exchanges till the time outstanding registration fees are fully paid,8221; the Securities and Exchange Board of India said in a release.

These brokers include those from BSE,NSE,OTCEI,Cochin and Vadodara.

8220;Consequently,the certificates of registration of these stock brokers operating as sub-brokers of subsidiaries of Stock Exchanges8230; shall also remain suspended accordingly,8221; SEBI said.

The order was passed on March 8 and would come into force on the expiry of 21 days.