sebi:Order/NH/YK/2024-25/30724

SEBI · SEBI · 2016-07-21 · N Hariharan, Chief General Manager and Adjudicating Officer

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Facts / Headnote

Penalty imposed on the Noticee

Provisions invoked

Parties

Holding

The Noticee violated Clauses 3 and 6 of the SEBI Circular dated July 21, 2016 and Clauses 114, 115, and 116 of the SEBI Master Circular dated October 12, 2023, read with Clause 9 (1A) of the PML Rules, by failing to update clients' KYC with CKYCR within the stipulated time in 1,501 instances and not at all in 200 instances, and a monetary penalty of Rs. 3,00,000/- was imposed under Section 15HB of the SEBI Act.

Full text

Adjudication Order in the matter of Jainam Broking Limited Page 2 of 14 4. Based on the findings of the inspection conducted by SEBI and the responses of the Noticee, certain non-compliances of SEBI Circulars and Prevention of Money- Laundering (Maintenance of Records) Rules, 2005 (hereinafter referred to as “PML Rules”) were alleged. The summary of the violations alleged to have been committed by the Noticee and the corresponding provision of the law are given in the table below: Table 1 Sr. No. Alleged Violations (Summarized) Regulatory Provisions

Adjudication Order in the matter of Jainam Broking Limited Page 3 of 14 into and adjudge under the provisions of Section 15HB of the SEBI Act for the aforementioned violations of the provisions of law alleged to have been committed by the Noticee.

Adjudication Order in the matter of Jainam Broking Limited Page 4 of 14 laws. However, in 200 instances, updates with CKYCR were not carried out at all. Thus, it was alleged in the PIA that there was a violation of applicable provisions in a total of 1,701 instances.

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Source: SecMarx — sebi:Order/NH/YK/2024-25/30724. 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.