sebi:SRP/RK/AO-44/2009-10
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 7
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 2
- Reg. 47
- Reg. 4(2)(a)
- Reg. 4(2)(e)
- Reg. 4(2)(g)
- Reg. 4(2)(b)
- Reg. 4(2)(n)
Holding
The Noticee violated regulations 4(1), 4(2)(a), (b), (e), (g) and (n) of the PFUTP Regulations and clauses A(1) to A(5) of the Code of Conduct for Stock Brokers, and a total penalty of Rs.2,50,000 was imposed under Sections 15HA and 15HB of the SEBI Act, 1992.
Full text
Page 2 of 12 APPOINTMENT OF ADJUDICATING OFFICER 3. Shri Biju S. was appointed as the Adjudicating Officer (AO) vide order dated December 16, 2006 under section 15 I of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘the Act’) read with rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalty by Adjudicating Officer) Rules, 1995 (hereinafter referred to as ‘the Rules’) to inquire into and adjudge under sections 15HA and 15HB of the Act, the alleged violation of the provisions of regulations 4(1), 4(2) (a), (b), (e), (g) and (n) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations’) and also the provisions of clauses A(1) to A(5) of the Code of Conduct for Stock Brokers as specified under Schedule II read with regulation 7 of the SEBI (Stock Brokers and Sub Brokers) Regulations, 1992 (hereinafter referred to as ‘Brokers Regulations’), by the Noticee.
Page 3 of 12 January 7, 2010 and thereafter, to February 22, 2010. The authorized representative of the Notice - Mr. C. S. Jha, Advocate – appeared for the hearing on February 22 and thereafter on February 23, 2010 and made submissions on behalf of the Noticee. He also submitted a copy of letter dated July 30, 2009, which was earlier submitted to SEBI in respect of the allegations against the Noticee.
Page 4 of 12 (g) entering into a transaction in securities without intention of performing it or without intention of change of ownership of such security; (h) … (i) … (j) … (k) … (l) … (m) … (n) circular transactions in respect of a security entered into between intermediaries in
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Source: SecMarx — sebi:SRP/RK/AO-44/2009-10. 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.