sebi:QJA/VS/MIRSD/DOP/28586/2023-24
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Facts / Headnote
Certificate of Registration (No. INZ000017335) of Pinnacle Brocom Private Limited cancelled with immediate effect
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 12
- s. 3(1)
- s. 27
- s. 154
- s. 3(2)
- s. 131B
- s. 29A(2)
- s. 131
Regulations
- Reg. 6
- Reg. 9(f)
- Reg. 5(e)
- Reg. 28(2)
- Reg. 9
- Reg. 23
- Reg. 7
- Reg. 28
- Reg. 27
- Reg. 28(1)
- Reg. 25(1)
- Reg. 9(b)
- Reg. 24(2)
- Reg. 2(1)(k)
Parties
- Pinnacle Brocom Private Limited
Holding
The Certificate of Registration of Pinnacle Brocom Private Limited as a commodity derivatives broker was cancelled on the ground that it is not a 'fit and proper person' under Schedule II of the Intermediaries Regulations. The Noticee was found to have facilitated trading in 'paired contracts' on NSEL in violation of the 2007 Exemption Notification and FCRA, and to have attracted disqualification under paragraph 3(b)(i) of the amended Schedule II due to a subsisting FIR.
Full text
_____________________________________________________________________________________ Order in respect of Pinnacle Brocom Private Limited in the matter of National Spot Exchange Limited Page 2 of 41
_____________________________________________________________________________________ Order in respect of Pinnacle Brocom Private Limited in the matter of National Spot Exchange Limited Page 3 of 41
_____________________________________________________________________________________ Order in respect of Pinnacle Brocom Private Limited in the matter of National Spot Exchange Limited Page 4 of 41
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Source: SecMarx — sebi:QJA/VS/MIRSD/DOP/28586/2023-24. 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.