sebi:EAD/PM-AA/AO/5/2017-18
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Facts / Headnote
Disposed of without imposition of any penalty
Provisions invoked
- s. 15H
- s. 15I
Regulations
- Reg. 7
- Reg. 3(a)
- Reg. 4(2)(a)
Parties
- Marwadi Shares & Finance Ltd.
Holding
The Show Cause Notice dated July 27, 2017 against Marwadi Shares & Finance Ltd. alleging violation of Clause A(2) of the Code of Conduct read with Regulation 7 of the Broker Regulations, 1992 for acting as broker and counterparty broker for self-trades was disposed of without imposition of any penalty as the violations were not established.
Full text
Adjudication Order in respect of Marwadi Shares & Finance Ltd. in the matter of Prakash Constrowell Limited Page 2 of 6 3. Marwadi Shares & Finance 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 Chandarana. It was, therefore, alleged that by acting as broker and counterparty broker for self-trades of Chandarana, 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 Marwadi Shares & Finance Ltd. in the matter of Prakash Constrowell Limited Page 3 of 6 7 of the Broker Regulations, 1992 as specified in the SCN. Copies of the documents relied upon in the SCN were provided to the Noticee along with the SCN.
Adjudication Order in respect of Marwadi Shares & Finance Ltd. in the matter of Prakash Constrowell Limited Page 4 of 6 Violation of Code of Conduct under Broker Regulations, 1992
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Source: SecMarx — sebi:EAD/PM-AA/AO/5/2017-18. 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.