sebi:Order/KS/AE/2020-21/11175
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Facts / Headnote
A monetary penalty of INR 2,50,000 was imposed on the Noticee under Section 15HB of the SEBI Act, 1992.
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 28A
Parties
- ACML Capital Markets Ltd. (previously known as ASE Capital Markets Ltd.)
Holding
The Adjudicating Officer found that the Noticee failed to comply with specified SEBI requirements concerning client-account settlement, funding of clients with debit balances, client information and enhanced-supervision reporting. A penalty of INR 2,50,000 was imposed under Section 15HB of the SEBI Act.
Full text
Page 2 of 37 norms prescribed by SEBI. The inspection period was April 2017 to October 2018 (hereinafter referred to as “IP”).
Page 3 of 37 specified under Rule 4 of SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as “SEBI Adjudication Rules”) for the above alleged violations committed by the Noticee.
Page 4 of 37 Table 1 Particulars Active Clients Regular Traded Clients Sample size (instances) 194 Sample size (clients) 144 Non-compliant (instances) 14 Non-compliant (clients) 13 Percentage of noncompliance 9.72% Range of non-settlement (Rs.)/Securities Rs. 0.16/- Lakhs to Rs. 4.21 crores
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Source: SecMarx — sebi:Order/KS/AE/2020-21/11175. 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.