NSE raps Angel One for lapses, slaps Rs 1.67 crore monetary penalty

The National Stock Exchange of India (NSE) has rapped Angel One for failing to monitor the operations of its authorised persons (APs), which resulted in alleged violation of capital market regulations. 

The exchange, in an order dated July 14, has slapped a monetary penalty of Rs 1.67 crore and prohibited the brokerage from onboarding new APs for a period of six months. NSE has directed Angel One to conduct inspection of all its APs and submit a report within six months. 

Angel One has said NSE’s order does not affect the existing business or the activities of the APs affiliated with the company.

 

Further, the brokerage has said it is evaluating various options available including filing an appeal against the order.

Shares of Angel One on Friday closed at Rs 1,707, down 2 per cent over its previous day’s close.