sebi:CGM/AA/QJC-1/WRO/WRO/21387/2022-23
Provisions invoked
- s. 19
- s. 12A
- s. 12
- s. 13
- s. 12(3)
Regulations relied on
- SEBI (Intermediaries) Regulations, 2008 — 27
- SEBI (Investment Advisers) Regulations, 2013 — 1
- SEBI (PFUTP) Regulations, 2003 — 3(a)
- SEBI (PFUTP) Regulations, 2003 — 4(1)
Parties
- Dollar Advisory and Financial Services - Proprietor Ravi Prakash Mohta
Holding
The Noticee, an Investment Adviser, was found to have violated multiple provisions of IA Regulations, PFUTP Regulations, and SEBI Act including failure to conduct proper risk profiling, non-cooperation with inspection, and failure to redress investor grievances.
Full text
Order in the matter of Dollar Advisory and Financial Services- Proprietor Ravi Prakash Mohta Page 2 of 71 report and make recommendation in compliance with Regulations 26 of Intermediaries Regulations.
Order in the matter of Dollar Advisory and Financial Services- Proprietor Ravi Prakash Mohta Page 3 of 71 D. Risk Profiling Form It is alleged that the questions mentioned in the questionnaire have been framed in such a manner so that it would be difficult for the clients to understand and provide an appropriate response. It is also observed that few questions, whose combined score is 25% of the total score are unclear. Thus, it is alleged that Noticee has violated regulation 16(b)(iii) and 16(d)(i) of IA Regulations.
Order in the matter of Dollar Advisory and Financial Services- Proprietor Ravi Prakash Mohta Page 4 of 71 Therefore, the Noticee by selling its products and charging advisory fees from the clients without undertaking risk profiling of client, the Noticee is alleged to have violated regulation 17(a) of IA Regulations and violated clauses 1, 2 and 4 of Code of Conduct as mentioned in Schedule III read with regulation 15(9) of IA Regulation and regulation 3(a), (b), (c), (d) and 4(1) of PFUTP Regulations read with section 12A(a), (b) and (c) of SEBI Act, 1992.
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Source: SecMarx — sebi:CGM/AA/QJC-1/WRO/WRO/21387/2022-23. 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.