sebi:EAD/KS/MKG/AO/129/2018-19
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Facts / Headnote
Allegations of violation of SEBI Circular SEBI/MIRSD/SE/Cir-19/2009 dated December 03, 2009 and Clause A(2) and A(5) of the Code of Conduct under Schedule II read with Regulation 9(f) of the SEBI (Stock Brokers & Sub-Brokers) Regulations, 1992 held established; monetary penalty imposed under Section 15HB of the SEBI Act.
Provisions invoked
- s. 15
- s. 11(1)
- s. 15H
- s. 15J
- s. 15F
Regulations
- Reg. 199
- Reg. 6
- Reg. 9(f)
Parties
- [Stock Broker - name not specified in extract]
Holding
The Noticee (a registered stock broker) violated SEBI Circular SEBI/MIRSD/SE/Cir-19/2009 dated December 03, 2009 by failing to settle clients' running fund and securities accounts on a quarterly/monthly basis, and violated Clause A(2) and A(5) of the Code of Conduct read with Regulation 9(f) of the Broker Regulations. The Adjudicating Officer held it a fit case to impose monetary penalty under Section 15HB of the SEBI Act.
Full text
Page 2 of 33 (b) Clause A (2) & A (5) of the Code of Conduct specified under Schedule II, read with Regulation 9(f) of the SEBI (Stock Brokers & Sub-Brokers) Regulations, 1992 (hereinafter referred to as ‘Broker Regulations’)
Page 3 of 33 Sr. No. Client code Quarter ended balance 2 20813 144806 112102 42584 42584 42584 3 22036 12732 0 0 0 0 4 18272 35956 0 31769 0 0 5 20601 109366 0 0 48085 22860 6 17402 0 16257 0 0 29345 7 18546 0 0 0 0 20347 8 18640 0 0 0 16936 0 9 18676 0 0 0 0 20965
Page 4 of 33 Sr. No. Client code Quarter ended 11 8613 86181.10 141455.48 0.00 0.00 0.00 12 8653 69650.00 0.00 0.00 0.00 0.00 13 10518 0.00 0.00 5900.00 0.00 0.00 14 17042 0.00 0.00 22095.00 0.00 0.00 15 18546 0.00 0.00 67020.00 0.00 0.00 16 20032 0.00 541738.00 4760.00 0.00 0.00 17 20037 0.00 274.00 420.00 0.00 0.00 18 20091 25790.00 81720.00 34070.00 16365.00 0.00 19 20101 0.00 67400.00 110455.00 12179.50 248040.00 20 22518 14.50 16.00 12644.25 11.25 2469.75 21 22522 2712.75 2878.95 2968.80 2822.40 572.10 22 22548 68240.00 73642.50 86120.00 66915.50 172734.50 23 23018 0.00 17180.00 7586.70 0.00 0.00 24 23063 3405.00 17180.00 0.00 0.00 0.00 Total 1,17,14,332.16 1,55,26,882.50 1,39,92,651.50 1,04,15,177.40 1,38,24,902.90
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Source: SecMarx — sebi:EAD/KS/MKG/AO/129/2018-19. 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.