sebi:EAD/PM-AA/AO/24/2017-18
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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
- Reg. 200
- Reg. 3(a)
- Reg. 4(2)(a)
Parties
- R M Shares Trading Pvt. Ltd.
Holding
Show Cause Notice A&E/EAD/PM/AE/17647/2017 dated July 27, 2017 against R M Shares Trading Pvt. Ltd. was disposed of without imposition of any penalty as violations of Regulations 3(a), (b), (c), (d), 4(1), 4(2)(a) and (g) of PFUTP Regulations, 2003 and Clause A(2) of Code of Conduct read with Regulation 7 of Broker Regulations, 1992 were held not established.
Full text
Adjudication Order in respect of R M Shares Trading Pvt. Ltd. in the matter of Prakash Constrowell Ltd. Page 2 of 9 3. Noticee executed self-trades on 4,559 and 3,911 occasions in the scrip of PCL on BSE and NSE respectively during the investigation period. It was further observed that in respect of all the self-trades at BSE and NSE, Noticee itself was the broker on buy side as well as on sell side.
Adjudication Order in respect of R M Shares Trading Pvt. Ltd. in the matter of Prakash Constrowell Ltd. Page 3 of 9 Subsequently, I have been appointed as Adjudicating Officer in place of Shri Nagendraa Parakh in the present matter vide order dated May 18,
Adjudication Order in respect of R M Shares Trading Pvt. Ltd. in the matter of Prakash Constrowell Ltd. Page 4 of 9 These instances of self-trades are purely incidental to the execution of the trading strategy and are not planned to be executed. The random nature of timing, quantity, dealers and partial matching with other market participants substantiate that these trades are unintentional and are a matter of pure co-incidence.
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Source: SecMarx — sebi:EAD/PM-AA/AO/24/2017-18. 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.