Angel One Settles SEBI Probe Over AP Monitoring Lapses for ₹4.28 Crore
Leading brokerage firm Angel One has resolved adjudication and enquiry proceedings initiated by the Securities and Exchange Board of India (SEBI) by paying a settlement fee of ₹4.28 crore. The settlement addresses regulatory concerns regarding the company's oversight of two authorised persons (APs) and their subsequent violations.
Regulatory Lapses in Supervising Authorised Persons
The SEBI proceedings stemmed from alleged failures by Angel One to adequately monitor and supervise the activities of two specific authorised persons, Deepankar Barman and Nadella Srinivas Rao. The regulator had issued show-cause notices in May 2025, alleging that the brokerage failed to identify and act upon several violations committed by these intermediaries.
The investigation highlighted significant gaps in Angel One's internal controls. According to SEBI, the firm failed to detect unauthorised fund collection activities and did not conduct sufficient due diligence during its inspections. Furthermore, the brokerage was flagged for failing to intervene despite observing disproportionate trading patterns that should have triggered regulatory scrutiny.
Social Media Misconduct and Trading Irregularities
A critical component of the SEBI investigation involved the conduct of the authorised persons on digital platforms. One of the APs was found to have engaged in unauthorised social media activities, which included making illegal promises of "assured returns" to potential clients. This individual also allegedly engaged in unauthorised portfolio management activities while improperly using the Angel One brand name and logo to gain credibility.
In the specific case of Nadella Srinivas Rao, SEBI pointed toward severe operational irregularities. The regulator noted that Angel One failed to conduct necessary inspections despite massive fund collections and highly disproportionate trading volumes. Technical red flags were also raised when orders for multiple different clients were allegedly placed using the same IP and MAC addresses, suggesting a centralized and potentially unauthorised execution process.
Settlement Without Admission or Denial
为了解决此事，Angel One 于 2025 年提交了和解申请。需要注意的是，该公司选择这一途径时，并未承认或否认监管机构的调查结果。在与 SEBI 内部委员会进行商议后，该公司同意支付 4280 万卢比的和解金额。
该和解提案已获得 SEBI 高级顾问委员会及全体成员小组的正式批准。在 2026 年 5 月 22 日支付和解金额后，监管机构已根据《SEBI 和解程序条例》正式结案了裁决和调查程序。
核心要点
- 和解金额： Angel One 已向 SEBI 支付了 4280 万卢比，以解决有关监管疏忽的程序。
- 核心违规行为： 监管机构指出，该公司在监控未经授权的资金收集、交易模式不成比例以及授权人员社交媒体行为不当方面存在失职。
- 合规影响： 此案凸显了监管机构对券商在监督其中介机构及其数字足迹方面加强了审查力度。