SEBI Cancels Analyst's License Over Credential Misuse in Investment Fraud

• SEBI cancelled research analyst Purooskhan's registration due to misuse of his credentials by an unregistered firm, Option Research Consultancy (ORC).
• ORC operated website optionresearch.in, offering illegal investment advice, promising guaranteed returns, and causing significant investor losses.
• SEBI ordered ORC and its partners to refund ₹30.39 lakh, barred them from the market for two years, and imposed ₹6 lakh penalties.
• Purooskhan admitted sharing his SEBI registration email password with an ORC partner, leading to serious negligence, though no direct collusion was found.
• SEBI cited investor protection and market integrity for cancelling Purooskhan's license, which he agreed to.

Why It Matters: SEBI cancels analyst's license for negligence, highlighting strict action against credential misuse and fraud.