sebi:Order/MC/RM/2022-23/22434
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Facts / Headnote
Violation established - Noticee held liable under Section 15HB of SEBI Act for violation of para 7 of EWM Circular read with clause 5.2 of SOP
Provisions invoked
- s. 15
- s. 19
- s. 11(1)
- s. 15H
- s. 15J
Parties
- NSE Clearing Limited
Holding
NSE Clearing Limited violated para 7 of the SEBI Early Warning Mechanism Circular dated December 17, 2018 read with clause 5.2 of the SOP by failing to share mismatch alerts for PAN AABCK5190K of Karvy Stock Broking Limited for February 2019 to November 2019 with BSE, and is liable for monetary penalty under Section 15HB of the SEBI Act.
Full text
Adjudication Order in respect of NSE Clearing Limited in the matter of Karvy Stock Broking Limited Page 2 of 26 Adjudication Rules read with Section 15-I of the SEBI Act to show cause as to why an inquiry should not be held and penalty not be imposed upon the Noticee under Section 15HB of SEBI Act for the aforesaid alleged violations.
Adjudication Order in respect of NSE Clearing Limited in the matter of Karvy Stock Broking Limited Page 3 of 26 7. As per para 7 of the said circular, alerts triggered on the Stock Exchange/Clearing Corporation/Depository through early warning mechanism shall be immediately shared with other Stock Exchange/Depositories with respect to the Stock Broker/depository participant.
Adjudication Order in respect of NSE Clearing Limited in the matter of Karvy Stock Broking Limited Page 4 of 26 13. The aforesaid alleged violation, if established, makes the Noticee liable for monetary penalty under Section 15HB of the SEBI Act.
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Source: SecMarx — sebi:Order/MC/RM/2022-23/22434. 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.