sebi:SO/AB/EFD2/2022-23/7162/2
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Facts / Headnote
Settlement of pending enforcement proceedings qua the applicants for violations in the illiquid stock options segment of BSE
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 26
Holding
SEBI settled the pending enforcement proceedings against Applicant No. 1 and Applicant No. 2 for violations in the illiquid stock options segment of BSE, extending the benefit of the settlement scheme to both applicants despite procedural lapses, and ordered that no further enforcement action be initiated or continued against them for the said defaults.
Full text
Settlement Order in the matter of reversal trades in the illiquid stock options segment of BSE Page 2 of 4 by SEBI. Since the applicant had remitted the settlement amount of Rs. 1,00,000/- (One lakh only) during the time when the Scheme was operational, the benefit of the Scheme is being extended to her. The Applicant no. 1 was informed vide letter dated August 11, 2023 that an application for settlement along with non-refundable application fee would be required to be made online for availing the Scheme. The Applicant no. 1 has now informed about filing the application on October 31, 2023 and has also informed about remittance of the application fees vide email dated October 26, 2023. SEBI has confirmed credit of the same.
Settlement Order in the matter of reversal trades in the illiquid stock options segment of BSE Page 3 of 4 Tribunal dated October 11, 2022, the benefit of the Scheme is being extended to the Applicant No. 2.
Settlement Order in the matter of reversal trades in the illiquid stock options segment of BSE Page 4 of 4 9. A copy of this order shall be served upon the concerned entities and published on the website of SEBI.
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Source: SecMarx — sebi:SO/AB/EFD2/2022-23/7162/2. 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.