sebi:Order/PM/SM/2021-22/11348
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Facts / Headnote
Penalty imposed on Noticee for violations of NSE bye-laws, Code of Conduct, and PFUTP Regulations
Provisions invoked
- s. 15
- s. 12A
- s. 11
- s. 15H
- s. 15J
- s. 15T
Regulations
- Reg. 199
- Reg. 3
- Reg. 9(f)
- Reg. 4(1)
- Reg. 9
- Reg. 200
- Reg. 3(b)
- Reg. 26
- Reg. 201
Parties
- PRB Securities Limited
Holding
The Noticee was found in violation of point 2(a) of Chapter V of NSE bye-laws read with clauses A(2) and A(5) of the Code of Conduct under Schedule II read with regulation 9(f) of the Stock Broker Regulations, 1992, and regulation 4(1) of the PFUTP Regulations, 2003. A total penalty of Rs. 6,00,000 was imposed — Rs. 5,00,000 under section 15HA and Rs. 1,00,000 under section 15HB of the SEBI Act, 1992.
Full text
Adjudication Order in respect of PRB Securities Limited in the matter of NSE Co-Location Page 2 of 34 Brokers) Regulations, 1992 (hereinafter referred to as Stock Broker Regulations, 1992) against the Noticee. Adjudication proceedings have been initiated against the Noticee for the alleged violation of provisions of point 2(a) of Chapter V of NSE bye-laws r/w clauses A(2) and A(5) of the Code of Conduct specified under Schedule II r/w regulation 9(f) of the Stock Broker Regulations, 1992 and regulations 3(b), 3(c), 3(d) and 4(1) of Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as PFUTP Regulations, 2003) and sections 12A(a), 12A(b) & 12A(c) of the SEBI Act, 1992.
Adjudication Order in respect of PRB Securities Limited in the matter of NSE Co-Location Page 3 of 34 against it and why penalties, if any, should not be imposed on them under the provision of sections 15HA and 15HB of the SEBI Act, 1992. The allegations in the SCN are as follows:
Adjudication Order in respect of PRB Securities Limited in the matter of NSE Co-Location Page 4 of 34 III. Deloitte has made the following findings/ observations with respect to the Noticee: A. Issues pertaining to connecting to secondary server
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