sebi:EAD/KS/MKG/AO/94/2017-18
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Facts / Headnote
Show Cause Notice disposed of without imposition of any penalty
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 3(a)
Parties
- SPS Share Brokers Pvt. Ltd.
Holding
The Adjudicating Officer held that the alleged violation of Clause A(2) of the Code of Conduct for Stock Brokers read with Regulation 7 of the Broker Regulations, 1992 was not established against SPS Share Brokers Pvt. Ltd., and disposed of the Show Cause Notice without imposing any penalty.
Full text
Page 2 of 10 Investigation (01/02/2009 to 31/07/2009 (price rise) - Patch I Price 27.7 65.3 19.7 65.3 31.94 Volume 17579 87644 2100 405393 117539 01/08/2009 to 20/03/2012 (price rise) - Patch II Price 68.5 199.4 67.25 295.15 195.87 Volume 108175 153841 7820 3945934 212971 21/03/2012 to 30/09/2012 (price fall) Price 199.45 21.45 17.6 203.45 36.76 Volume 246215 39556 1897 3475048 144592 Post- Investigation (01/10/2012 to 31/12/2012) Price 21.8 18.8 16.5 28.1 19.92 Volume 31760 102920 7749 736146 53854
Page 3 of 10 APPOINTMENT OF ADJUDICATING OFFICER 4. SEBI, vide communication order dated July 17, 2017 appointed the undersigned as Adjudicating Officer under Section 15 I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as "SEBI Act"), read with Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘Rules’) to inquire into and adjudge under Section 15HB of SEBI Act, the alleged violation of the provisions of Clause A(2) of the Code of conduct for Stock Brokers as stipulated in schedule II read with Regulation 7 of the Broker Regulations, 1992 by Noticee.
Page 4 of 10 a. At the outset, we, deny all the allegations, contentions, submissions and/or insinuations against us in your aforesaid letter dated 31st October 2017 (hereinafter referred to as "Show Cause Notice") that are contrary to and inconsistent with what is stated hereinafter. Nothing should be deemed to have been admitted by us for want of non- traverse and/or for want of specific denials. b. At the outset, we deny that we have violated any provisions of the SEBI Act, the Regulations framed thereunder or any other laws in respect of the transactions highlighted in the Show Cause Notice.
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Source: SecMarx — sebi:EAD/KS/MKG/AO/94/2017-18. 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.