sebi:Order/AS/RM/2024-25/31192
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Facts / Headnote
Penalty imposed on the Noticee for violations of SEBI Master Circular provisions relating to capacity planning, BCP-DR policy review, DR drill, and IRT/CMT constitution.
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 15H
- s. 15F
- s. 28A
Regulations
- Reg. 199
Parties
- Fyers Securities Private Ltd
Holding
The Noticee, Fyers Securities Private Ltd, was found to have violated Clause 61.4.2, 61.7.2, 61.7.4, and 61.7.5 of the SEBI Master Circular and related provisions, and a penalty of ₹4,00,000 was imposed under Section 15HB of the SEBI Act.
Full text
Adjudication Order in the matter of Fyers Securities Private Ltd Page 2 of 20 c) Clause 61.7.4 of SEBI Master Circular SEBI/HO/MIRSD/MIRSD-PoD- 1/P/CIR/2023/71 dated May 17, 2023 r/w para 7.4 of SEBI Circular SEBI/HO/MIRSD/TPD-1/P/CIR/2022/160 dated November 25, 2022. d) Clause 61.7.5 of SEBI Master Circular SEBI/HO/MIRSD/MIRSD-PoD- 1/P/CIR/2023/71 dated May 17, 2023 r/w para 7.5 of SEBI Circular SEBI/HO/MIRSD/TPD-1/P/CIR/2022/160 dated November 25, 2022 r/w Para 6 (xiii) of NSE circular NSE/COMP/54876 dated December 16, 2022 r/w NSE/COMP/55936 dated March 10,2023 r/w Clause A (5) of the Code of Conduct as specified at schedule II of SEBI Stock brokers regulation 1992. APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in the matter of Fyers Securities Private Ltd Page 3 of 20 ‘…….. a. Monitoring Mechanism It is alleged that, the Noticee failed to submit any documentary evidence for quarterly monitoring of peak load in Calendar quarters (April-June 2023, July-September 2023 and October-December 2023). This is stated at para no.2 at page number 6 of the inspection report and in the response submitted by the Noticee through email dated March 20, 2024 to the findings of inspection. On account of failure in submission of documentary evidence of quarterly monitoring of peak load, it is alleged that the Noticee has violated the provisions of Clause 61.4.2 of SEBI Master Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/71 dated May 17, 2023 r/w para 4.2 of SEBI Circular SEBI/HO/MIRSD/TPD-1/P/CIR/2022/160 dated November 25, 2022.
Adjudication Order in the matter of Fyers Securities Private Ltd Page 4 of 20 d. Non –Constitution of Incident and response Team (IRT) and Crisis Management team (CMT) It is alleged that the Noticee has not submitted any documentary evidence for constitution of Incident and Response Team / Crisis Management Team. In view of non-submission of documentary evidence w.r.t constitution of IRT / CMT, it is alleged that the Noticee has violated the provisions of Clause 61.7.5 of SEBI Master Circular SEBI/HO/MIRSD/MIRSD- PoD-1/P/CIR/2023/71 dated May 17, 2023 r/w para 7.5 of SEBI Circular SEBI/HO/MIRSD/TPD-1/P/CIR/2022/160 dated November 25, 2022 r/w Para 6 (xiii) of NSE circular NSE/COMP/54876 dated December 16, 2022 r/w NSE/COMP/55936 dated March 10,2023 r/w Clause A (5) of the Code of Conduct as specified at schedule II of SEBI Stock brokers regulation 1992. ………….’
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Source: SecMarx — sebi:Order/AS/RM/2024-25/31192. 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.