0252-2014 Svarn Financial Services Pvt. Ltd vs Securities and Exchange Board of India
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Full text
a. The Appellant had not done actual settlement of funds and securities of clients either in a calendar quarter or month, for 74 out of 151 of its clients trading in the F&O segment, thereby violating the provisions of SEBI Circular MIRSD/SE/Cir-19/2009 dated December 03, 2009; and b. The Appellant had continued to retain a 10-day notice period clause for the revocation of running account authorizations taken from the clients, as part of its KYC kit, thereby violating the provisions of Clauses A(2) & A(5) of the Code of Conduct laid down under Schedule II specified under Regul
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
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Source: SecMarx — 0252-2014 Svarn Financial Services Pvt. Ltd vs Securities and Exchange Board of India. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.