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SEBI Raps Edelweiss Broking for Failing To Report Suspicious Activity

While letting Edelweiss Broking Ltd (now known as Nuvama Wealth and Investment Ltd) off with a rap on the knuckles for not reporting suspicious transactions, market regulator Securities and Exchange Board of India (SEBI) has asked the stockbroker to be more cautious while reporting suspicious transactions. The case is related to the dematerialisation and sale of shares in dormant accounts using forged documents by certain entities between 2008 and 2013.

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