sebi:EAD-12/SM/216/2018
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Facts / Headnote
Penalty imposed on Noticee for violation of SEBI Circular No. SMD/SED/CIR/93/23321 dated November 18, 1993 and Clause A(2) and A(5) of Code of Conduct under Regulation 9(f) of SEBI (Brokers and Sub Brokers) Regulations, 1992
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 9(f)
Parties
- JMP Securities Pvt. Ltd.
Holding
The Noticee violated SEBI Circular No. SMD/SED/CIR/93/23321 dated November 18, 1993 and Clause A(2) and A(5) of the Code of Conduct specified under Regulation 9(f) of SEBI (Brokers and Sub Brokers) Regulations, 1992 by co-mingling its client's securities and money with its own. A monetary penalty of Rs. 1,00,000 under Section 15HB of the SEBI Act and Rs. 1,00,000 under Section 23D of SCRA was imposed.
Full text
In the matter of JMP Securities Pvt. Ltd. Page 2 of 8 Sr. No. Account Number Bank Name Account Code Branch Name Own A/c or Client A/c Purpose of account 1 8627110000030 BOI BC03 Stock Exchange Own OD 2 86201100002569 BOI BC015 Stock Exchange Own NSE Currency Derivatives 3 8620110000991 BOI BC07 Stock Exchange Own NSE Expense AC 4 8620110000992 BOI BC06 Stock Exchange Settlement F&O Settlement 5 8620110000994 BOI BC09 Stock Exchange Settlement NSE Settlement 6 8620110001553 BOI BC014 Stock Exchange Client NSE Client 7 8620110000993 BOI BC08 Stock Exchange Client F&O Client AC 8 8620100010353 BOI BC01 Stock Exchange Settlement BSE Settlement 9 8620110001563 BOI BC013 Stock Exchange Client BSE Client AC 10 8620100010339 BOI BC02 Stock Exchange Expense Expense 11 405109412 ICICI BC021 Fort Own Margin F&O 12 305260060811 SBI BC011 Fort Own AC Closed 13 157700340004200 HDFC BC012 Fort Own AC Closed 15 8620110001044 BOI BC10 Stock Exchange Own NSE Expense AC
In the matter of JMP Securities Pvt. Ltd. Page 3 of 8 of Conduct specified under Regulation 9(f) of SEBI (Brokers and Sub Brokers) Regulations, 1992.
In the matter of JMP Securities Pvt. Ltd. Page 4 of 8 Table-A: Comparison of Income from external client’s vis-à-vis total Profit (in Lacs)
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Source: SecMarx — sebi:EAD-12/SM/216/2018. 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.