Sebi extended the deadline for its settlement scheme for brokers linked to certain unregulated algo platforms to October 16.
The scheme, launched in June, was earlier set to close on September 16.
Sebi said several entities showed interest in availing the scheme in recent days.
The scheme offers brokers with pending proceedings a chance to settle cases and expedite closure.
Brokers who do not opt for the scheme will continue to face legal action.
Sebi Extends Settlement Window till Oct 16 for Stock Brokers in Algo Trading Case
The matter pertains to a settlement scheme for brokers who had allegedly flouted norms by associating with unregulated algo trading platforms
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Summary
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Markets regulator Sebi on Tuesday extended the deadline for the settlement scheme to October 16 for all stock brokers associated with certain algo platforms.
The matter pertains to a settlement scheme for brokers who had allegedly flouted norms by associating with unregulated algo trading platforms.
The scheme period, which commenced in June, was scheduled to conclude on September 16.
In a statement on Tuesday, Sebi said it has "observed that during the last few days, a number of entities have shown interest in availing the scheme. Considering the interest of entities in availing the scheme, the competent authority has extended the period of the Scheme till October 16, 2025".
This scheme aims to provide a settlement opportunity to stock brokers linked with specific algo platforms against whom proceedings have already been initiated by Sebi and are currently pending before any authority or forum, like the Adjudicating Officer, Securities Appellate Tribunal, or the courts.
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By availing of the benefits of this scheme, the concerned stock brokers may settle the proceedings and seek an expedited conclusion to their cases.
However, actions initiated against stock brokers who choose not to avail this settlement opportunity will continue in accordance with the law.
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