NSE suspends Karvy Stock Broking's license due to non-compliance

Last month, capital market regulator Sebi had banned the brokerage firm from taking new clients and executing trades for misusing clients' funds.

National Stock Exchange (NSE) on Monday suspended the license of Karvy Stock Broking with effect from today (December 2, 2019) due to non-compliance of the regulatory provisions of the Exchange.

In a circular, the exchange informed that the brokerage firm has been suspended from capital market, Futures & Options (F&O), Currency derivatives, Debt, Mutual Fund Service System (MFSS) and commodity derivatives segments. 

Last month, capital market regulator Securities and Exchange Board of India (Sebi) had banned the brokerage firm from taking new clients and executing trades for misusing clients' funds. Sebi had said the unauthorised use of clients' funds creates