New Delhi, Nov. 27 -- The Securities and Exchange Board of India (Sebi) has cancelled the registrations of 68 investment advisers after they failed to comply with mandatory norms, in one of its largest compliance sweeps in recent years.The markets regulator issued the order on Thursday, cancelling the certificates with immediate effect after their failure to pay the renewal fees required to maintain a licence as a registered investment adviser (RIA).

The move is part of Sebi's efforts to prevent the misuse of credentials of inactive RIAs by fraudsters, said Abhishek Kumar, founder and chief investment adviser at Sahaj Money, a financial planning and investment advisory firm. "Through this, it appears Sebi aims to maintain an accurate, cr...