Stock broking firms tumble on Sebi order; Angel One tanks nearly 9%
Sebi instructed stock exchanges, clearing corporations, and depositories constituted as MIIs to ensure that any charges recovered from the end client are 'True to Label'
Stock broking firms saw declines on July 2 after SEBI mandated uniform charge structures for all market members, replacing varied fees based on trading volume. Angel One dropped 8.72%, Geojit Financial Services fell 6.83%, and others like Motilal Oswal and SMC Global also saw declines. SEBI's directive aims for fairness in fee imposition by market infrastructure institutions (MIIs), ensuring charges to end clients match those imposed on members.
