sebi:Order/BM/JR/2024-25/30665
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Facts / Headnote
Violations held established
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 23I
- s. 23J
- s. 23
- s. 23H
Regulations
- Reg. 9(f)
- Reg. 8(3)(f)
Parties
- IIFL Securities Limited
Holding
The Adjudicating Officer held that IIFL Securities Limited violated SEBI circulars on monthly/quarterly settlement of client funds and retention statements, stock reconciliation, closure of client collateral accounts, and Client Unpaid Securities Account verification.
Full text
Adjudication Order in the matter of IIFL Securities Limited Page 2 of 35 alleged to have been committed by the Noticee and corresponding provision of the securities law are given in the tabulation below:
Adjudication Order in the matter of IIFL Securities Limited Page 3 of 35 Sr. No. Alleged Violations (summarized) Regulatory provisions dated July 20, 2020 read with Clause 15 to Annexure A of NSE circular NSE/INSP/45191 dated July 31, 2020
Adjudication Order in the matter of IIFL Securities Limited Page 4 of 35 Adjudication Rules 2005’), (both the rules collectively to be known as ‘Adjudication Rules’) to inquire into and adjudge under the provisions of section 23H of SCRA and section 15HB of the SEBI Act, the alleged violations of SCRR, Brokers Regulations and various circulars issued therein, alleged to have been committed by the Noticee.
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