sebi:EAD/PM-AA/AO/15/2017-18
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Facts / Headnote
Show Cause Notice disposed of without imposition of any penalty
Provisions invoked
- s. 15H
- s. 15I
Regulations
- Reg. 7
- Reg. 3(a)
- Reg. 4(2)(a)
Parties
- OPG Securities Pvt. Ltd.
Holding
The alleged violation of Clause A(2) of the Code of Conduct for Stock Brokers by OPG Securities Pvt. Ltd. for acting as broker and counterparty broker for self-trades of GKN at BSE was not established, and the Show Cause Notice was disposed of without any penalty.
Full text
Adjudication Order in respect of OPG Securities Pvt. Ltd. in the matter of Prakash Constrowell Limited Page 2 of 6 3. OPG Securities Pvt. Ltd. (hereinafter referred to as “Noticee”) was the broker on buy side as well as on the sell side on all the occasions of self- trades executed by GKN at BSE. It was, therefore, alleged that by acting as broker and counterparty broker for self-trades of GKN at BSE, Noticee failed to exercise due skill and care and thereby violated Clause A(2) of the Code of conduct for Stock Brokers as stipulated in schedule II read with Regulation 7 of the SEBI (Stock Brokers and Sub brokers) Regulations, 1992 (hereinafter referred to as “Broker Regulations, 1992”). APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of OPG Securities Pvt. Ltd. in the matter of Prakash Constrowell Limited Page 3 of 6 documents relied upon in the SCN were provided to the Noticee along with the SCN.
Adjudication Order in respect of OPG Securities Pvt. Ltd. in the matter of Prakash Constrowell Limited Page 4 of 6 7. Considering the facts and circumstances of the case, reply of Noticee and the SEBI Policy on self-trades dated May 16, 2017 the undersigned is of the opinion that the present matter can be decided on the basis of
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Source: SecMarx — sebi:EAD/PM-AA/AO/15/2017-18. 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.