sebi:SO/AN/RG/2024-25/7704
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Facts / Headnote
Adjudication proceedings initiated against Citibank N.A. - DDP disposed of pursuant to settlement; settlement amount of ₹40,20,000/- received.
Provisions invoked
- s. 15H
- s. 15J
Regulations
- Reg. 10
- Reg. 25
- Reg. 28
- Reg. 14(3)
- Reg. 23(1)
- Reg. 37
- Reg. 32
- Reg. 13(2)(c)
Parties
- Citibank N.A. - DDP
Holding
The adjudication proceedings initiated against Citibank N.A. - DDP by the Show Cause Notice dated February 09, 2024 are disposed of in terms of Section 15JB of the SEBI Act, 1992 read with Regulation 23(1) of the SEBI (Settlement Proceedings) Regulations, 2018, following receipt of the settlement amount of ₹40,20,000/-.
Full text
Settlement Order in the matter of inspection of Citibank N.A. - DDP Page 2 of 4 3. A Show Cause Notice No. SEBI/EAD-5/AN/RG/5760/1/2024 dated February 09, 2024 (“SCN”) was issued to the Noticee in terms of provisions of Rule 4 of the Adjudication Rules, calling upon to show cause why an inquiry should not be held and penalty not be imposed, under Section 15HB of SEBI Act, for the alleged violation of provisions of Regulation 32 (1) of FPI Regulations, Clause 3 of Code of Conduct of Third Schedule provided under Regulation 37 of SEBI (Depositories and Participant) Regulations, 2018 & Para 2 of Part A & Para 8 of Part A of Operational Guidelines. Briefly stated, following was inter alia observed and alleged, in respect of the Noticee:
Settlement Order in the matter of inspection of Citibank N.A. - DDP Page 3 of 4 of SCN, within 15 working days from the date of the IC Meeting in terms of Regulation 13(2)(c) of SEBI (Settlement Proceedings) Regulations, 2018.
Settlement Order in the matter of inspection of Citibank N.A. - DDP Page 4 of 4 7. The passing of this Settlement Order shall however be without prejudice to the rights of SEBI under Regulation 28 and 31 of the SEBI (Settlement Proceedings) Regulations, 2018, to initiate appropriate actions, including restoring or initiating the proceedings in respect of which this settlement order is passed against the Applicant, if:
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Source: SecMarx — sebi:SO/AN/RG/2024-25/7704. 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.