sebi:EAD-2/DSR/KM/106/2014
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Facts / Headnote
Penalty imposed on the Noticee for violation of code of conduct for brokers
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 6
- Reg. 9(f)
- Reg. 24
Parties
- Finquest Securities Private Limited
Holding
The Noticee, Finquest Securities Private Limited, was held liable for violating clauses A(1) and A(2) of the Code of Conduct specified under Schedule II read with regulation 9(f) of the Brokers Regulations, and a penalty of Rs. 5,00,000/- was imposed under Section 15HB of the SEBI Act.
Full text
Page 2 of 12 2. During the period for which the scrips were investigated, there was huge change in price of the scrip. The volume of trade and the change in price of each of the aforesaid companies on BSE are mentioned below.
Page 3 of 12 related/connected/linked to each other and they together form a group (hereinafter collectively referred to as “Mehta Group”).
Page 4 of 12 Show Cause Notice, Reply and Personal Hearing 7. A show cause notice dated March 09, 2012 (hereinafter referred to as “SCN”) was issued to the Noticee under rule 4(1) of the Adjudication Rules to show cause as to why an inquiry not be held and penalty be not imposed on them under section 15 HB of the SEBI Act for the alleged violation of the provisions of clauses A (1) and A (2) of the code of conduct specified under Schedule II read with regulation 7 of the Brokers Regulations.
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Source: SecMarx — sebi:EAD-2/DSR/KM/106/2014. 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.