sebi:CO/IVD/1002/AO/VSS/35/2009
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Facts / Headnote
Consent order disposing of pending proceedings against the Noticee on payment of Rs.10,25,000/-
Parties
- Alliance Bernstein L.P
Holding
The proceedings pending against the Noticee under the SEBI Act, 1992 in the matter of Alliance Bernstein L.P are disposed of on the Noticee's payment of Rs.10,25,000/- as consent terms, without admission or denial of guilt.
Full text
Page 2 of 3 Consent Order in respect of the aforesaid SCN. The Noticee proposed consent terms, without admitting or denying the guilt and subject to clauses of the undertakings and waivers, submitting that he was willing to pay a sum of Rs.4,00,000/- (Rupees Four Lakh only). Thereafter, the Noticee vide letter dated December 1, 2008 proposed to offer a sum of Rs.10,25,000/- (Rupees Ten Lakh Twenty Five Thousand only) towards revised consent terms. The revised consent terms as proposed by the Noticee were placed before the High Powered Advisory Committee (hereinafter referred to as ‘HPAC’) on December 24, 2008. The HPAC considered the
Page 3 of 3 ii) Passing of this order is without prejudice to the right of SEBI to take enforcement actions including commencing / reopening of the pending proceedings against the Noticee, if SEBI finds that a. any representation made by the Noticee in the consent proceedings is subsequently discovered to be untrue. b. the Noticee has breached any of the clauses / conditions of undertakings / waivers filed during the current consent proceedings.
facts and circumstances of the case, consent terms offered by the Noticee and the material brought before them by SEBI and recommended that the case may be settled on payment of Rs.10,25,000/- (Rupees Ten Lakh Twenty Five Thousand only). The recommendation of HPAC was placed before the panel of two Whole Time Members of the SEBI Board who have agreed to the terms of consent as recommended by the HPAC.
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Source: SecMarx — sebi:CO/IVD/1002/AO/VSS/35/2009. 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.