Sebi appoints EY, Deloitte for joint audit of NSE brokers

Audit firms mandated to see if brokers, clients made profit by preferential access to colo facility

Capital markets regulator Securities and Exchange Board of India (Sebi) has ordered a joint forensic audit to establish collusion between brokers and officials of the National Stock Exchange (NSE) in the co-location controversy.

The regulator has appointed two audit firms — EY and Deloitte India — to conduct a forensic audit in the matter. “The firms have been mandated to examine and to ascertain if brokers and their clients made any profit by gaining preferential access to the co-location (colo) facility of the NSE,” said a source with direct knowledge of the matter.

An e-mail to the Sebi spokesperson did not elicit