sebi:PB/AO-57/2011
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Facts / Headnote
Violation established; penalty of Rs. 25,000 imposed under section 15HB of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 12
- s. 4A
Regulations
- Reg. 7
- Reg. 12(1)
- Reg. 12
Parties
- Noticee (compliance officer of AFSIL)
Holding
The Noticee, as compliance officer, violated regulation 12(1) read with clause 3.2-5 of the Code of Conduct specified under Part A of Schedule I of the PIT Regulations by allowing the trading window to remain open on September 13, 2005, and is liable for a monetary penalty of Rs. 25,000 under section 15HB of the SEBI Act.
Full text
Page 2 of 13 consequently, liable for monetary penalty under section 15HB of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”).
Page 3 of 13 announced at 4:00 PM on September 14, 2005. The corporate announcement was reflected on the BSE website on September 08, 2005 and September 14, 2005. It was alleged that the trading window was opened before the corporate announcements came in the public domain i.e. it was open on September 08, 2005 and September 13,
Page 4 of 13 as we do not have control over the acts of omission and commissions of the esteemed exchange. • There was an inadvertent technical lapse on our part in keeping the trading window open on September 13, 2005 under honest belief that the letter dated September 12, 2005 was served on the BSE on September 12, 2005.
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Source: SecMarx — sebi:PB/AO-57/2011. 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.