sebi:Order/SM/DD/2022-23/17237
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Facts / Headnote
Allegations of violation of Section 23D of SCRA read with various SEBI/NSE circulars established against the Noticee; penalty quantum not stated in the excerpt provided.
Provisions invoked
- s. 15
- s. 12
- s. 15H
- s. 15J
- s. 15F
- s. 28A
- s. 23J
- s. 23
- s. 23D
Regulations
- Reg. 9(f)
- Reg. 19
- Reg. 201
Parties
- M/s. FRR Shares and Securities Limited
Holding
The Adjudicating Officer found that the Noticee violated Section 23D of SCRA read with the Annexure to Transaction Regulation Circular and Annexure to Enhanced Supervision Circular (non-segregation of client funds), Clause 2.6 of Annexure to Enhanced Supervision Circular read with SEBI Circular CIR/HO/MIRSD/MIRSD2/CIR/P/2017/64 (funding beyond T+2+5 days), Clause 2(B) of SEBI Circular CIR/MIRSD/15/2011 (UCC database deficiencies), and SEBI Circular CIR/MIRSD/16/2011 (KYC non-compliance).
Full text
Adjudication Order in respect of M/s. FRR Shares and Securities Limited in the matter of M/s. FRR Shares and Securities Limited Page 2 of 64
Adjudication Order in respect of M/s. FRR Shares and Securities Limited in the matter of M/s. FRR Shares and Securities Limited Page 3 of 64 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of M/s. FRR Shares and Securities Limited in the matter of M/s. FRR Shares and Securities Limited Page 4 of 64 Auditor of Noticee, attended the hearing and reiterated the submission made by Noticee vide letter dated September 02, 2021. Vide email dated October 22, 2021, Noticee forwarded a letter dated October 19, 2021, submitting their additional reply. Thereafter, since more than six months had elapsed since the last date of hearing, vide email dated April 27, 2022, Noticee was granted another opportunity for filing additional written
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Source: SecMarx — sebi:Order/SM/DD/2022-23/17237. 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.