sebi:Order/JS/VC/2025-26/31603
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Facts / Headnote
Violation established in part; monetary penalty imposed
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 6
- Reg. 9(f)
- Reg. 26
- Reg. 9(b)
Parties
- SMC Global Securities Limited
Holding
The Adjudicating Officer held that 19 NSE CTCL terminals located at a place other than declared to NSE violated NSE circulars and Regulation 9(b) and Clause A(1), A(2) and A(5) of Schedule II read with Regulation 9(f) of Stock Brokers Regulations, while allegations regarding 1 NSE view-only terminal, 3 MCX terminals and 2 NCDEX terminals were not established, and imposed a monetary penalty of Rs. 2,00,000 under section 15HB of the SEBI Act.
Full text
Adjudication Order in the matter of SMC Global Securities Limited Page 2 of 18 (b) Regulation 26(xix), 9(b) and clause A(1), A(2) and A(5) of Schedule II read with regulation 9(f) of SEBI (Stock Brokers) Regulations, 1992 (hereinafter referred to as the ‘Stock Brokers Regulations’); (c) Clause 5.1 MCX/INSP/286/2024 dated April 30, 2024; (d) NCDEX/Compliance-034/2024 dated April 30, 2024; (e) NCDEX/Trading-014/2024 dated April 29, 2024.
Adjudication Order in the matter of SMC Global Securities Limited Page 3 of 18 (a) NSE Exchange circular no. NSE/MEMB/7400 dated April 20, 2006 and clause d) of “Trading Member” of Chapter 2(D) and clause a) of “Trading terminals” of Chapter 2(D) of NSE Exchange circular no. NSE/MA/22732 dated February 13, 2013. (b) Regulation 9(b) and clause A(1), A(2) and A(5) of Schedule II read with regulation 9(f) of Stock Brokers Regulations.
Adjudication Order in the matter of SMC Global Securities Limited Page 4 of 18 Floor, Kolkata - 700001 4, 4th Floor, Kolkata - 700001 PCT303 Anirban Ganguly 813003700001 Poddar Court, 18 Rabindra Sarani, Gate No. 4, 4th Floor, Kolkata - 700001 Poddar Court, 18 Rabindra Sarani, Gate No. 4, 5th Floor, Kolkata - 700001
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