sebi:Order/SM/S./2023-24/28380
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Facts / Headnote
Noticee found in violation of Clauses A(1), (2), (3) and (4) of the Code of Conduct for Stock Brokers under Schedule II read with Regulation 9(f) of the SEBI (Stock Brokers) Regulations, 1992; monetary penalty imposed under Section 15HB of the SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 6
- Reg. 9(f)
- Reg. 26
- Reg. 3(a)
- Reg. 9
Parties
- Sunstar Securities
Holding
The Noticee, Sunstar Securities, was held to have violated Clauses A(1), (2), (3) and (4) of the Code of Conduct for Stock Brokers under Schedule II read with Regulation 9(f) of the SEBI (Stock Brokers) Regulations, 1992, by failing to exercise due skill, care and diligence in identifying and reporting reversal trades executed by its clients in illiquid stock options on BSE, and a monetary penalty was imposed under Section 15HB of the SEBI Act.
Full text
Adjudication Order in respect of Sunstar Securities in the matter of Trading Members in Illiquid Stock Options at BSE. Page 2 of 25
Adjudication Order in respect of Sunstar Securities in the matter of Trading Members in Illiquid Stock Options at BSE. Page 3 of 25
Adjudication Order in respect of Sunstar Securities in the matter of Trading Members in Illiquid Stock Options at BSE. Page 4 of 25
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Source: SecMarx — sebi:Order/SM/S./2023-24/28380. 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.