Settlement agreement with pen on a conference table, high-rise city view.
Angel One has reached a settlement with the Securities and Exchange Board of India (SEBI) concerning allegations of supervisory lapses. The financial services company has paid ₹4.28 crore to resolve the case, which stemmed from failures in monitoring the activities of two authorized persons.
SEBI’s allegations centered on Angel One’s alleged inability to adequately oversee its authorized representatives. Specifically, the company was accused of not effectively identifying instances of unauthorized fund collection and improper promotions conducted via social media by these individuals.
The settlement brings closure to the regulatory proceedings, allowing Angel One to move forward without the burden of ongoing litigation. This resolution underscores SEBI’s continued focus on ensuring robust compliance and oversight within the securities market, particularly concerning client fund management and public communication by intermediaries.
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