The National Stock Exchange (NSE) has declared three stock brokers — Vrise Securities, Kaynet Finance and BMA Wealth Creators — as defaulters for non-compliance with the regulatory provisions of the bourse. In addition, they have been expelled from the membership of the exchange, the NSE said in three separate circulars. The move effective from February 13 has been taken as these brokers failed to comply with the NSE guidelines, they added. Under the guidelines, stock brokers are required to fulfill their obligations and should not involve in any misconduct, or unprofessional conduct among others.
