sebi:Order/AS/GD/2022-23/25243
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Facts / Headnote
Penalty of ₹2,00,000 imposed on Destiny Securities Ltd. for failure to exercise due skill, care and diligence in the conduct of its business while dealing with its clients.
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 6
- Reg. 9(f)
- Reg. 9
- Reg. 26
Parties
- Destiny Securities Ltd.
Holding
The Noticee, Destiny Securities Ltd., violated Schedule II A (2) of the Code of Conduct for Stock Brokers read with Regulation 9(f) of the SEBI (Stock Brokers) Regulations, 1992 by failing to exercise due skill, care and diligence in the conduct of its business while dealing with its clients, and a penalty of ₹2,00,000 was imposed under Section 15HB of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Destiny Securities Ltd. in the matter of Trading Members in Illiquid Stock Options Page 2 of 15
Adjudication Order in respect of Destiny Securities Ltd. in the matter of Trading Members in Illiquid Stock Options Page 3 of 15
Adjudication Order in respect of Destiny Securities Ltd. in the matter of Trading Members in Illiquid Stock Options Page 4 of 15
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Source: SecMarx — sebi:Order/AS/GD/2022-23/25243. 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.