Sebi had initiated adjudication proceedings in opposition to 122 stock brokers who have been noticed to have built-in their APIs with such algo platforms
111 stock brokers, together with main names similar to Zerodha, Angel One, and Motilal Oswal Financial Services, have settled a matter with the Securities and Exchange Board of India (Sebi) for associating with algo platforms that talked about assured returns or constant revenue of their algo methods.
The affiliation of the stock brokers with platforms making such claims was allegedly discovered to be in violation of market laws. Sebi had initiated adjudication proceedings in opposition to 122 stock brokers who have been noticed to have built-in their APIs with such algo platforms.
The stock brokers who’ve availed the scheme have paid ₹1 lakh every for the settlement.
Due to the numerous variety of stock brokers concerned, the regulator had introduced a settlement scheme, which was open from June 2025 to October 2025, the place stock brokers confirmed curiosity in availing the settlement.
First Published: Mar 18 2026 | 8:18 PM IST