New Delhi: Markets regulator SEBI on Tuesday said that it has given stock brokers more time to settle cases linked to unregulated algo trading platforms.
The regulator extended the deadline for its special settlement scheme to October 16.
The scheme was launched in June this year and was earlier set to close on September 16.
“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” the market regulator mentioned.
It offers brokers who were associated with certain unregulated algo platforms a chance to settle their pending cases with SEBI.
These cases are currently being heard before different authorities, including the Adjudicating Officer, the Securities Appellate Tribunal, and even the courts.
The market regulator said many brokers had shown interest in the scheme in recent days, which prompted the decision to extend the window by a month.
By opting for this scheme, brokers can resolve proceedings more quickly and bring their cases to a close.
However, SEBI clarified that brokers who do not take advantage of this opportunity will continue to face action under the law.
Meanwhile, the market regulator announced a series of regulatory changes after its board meeting last week, including a major relaxation in minimum public shareholding (MPS) norms for large companies planning initial public offerings (IPOs).
According to SEBI’s release on September 12, companies with a market capitalisation of Rs 50,000 crore to Rs 1 lakh crore will now get more time to meet the public shareholding requirements.
They will be required to achieve 15 per cent MPS within five years of listing and 25 per cent within 10 years.
(IANS)
