sebi:WTM/AB/WRO/WRO/11629/2021-22
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Facts / Headnote
Noticees found to have violated Section 12(1) of SEBI Act, 1992 read with Regulation 3(1) of IA Regulations and Regulation 4(2)(k) of PFUTP Regulations; directed to refund fees, debarred from securities market for 2 years, restrained from associating with listed companies/intermediaries for 2 years, and other injunctive directions.
Provisions invoked
- s. 19
- s. 12(1)
- s. 12A
- s. 28A
Regulations
- Reg. 11
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 3(1)
- Reg. 2(m)
- Reg. 3(d)
- Reg. 4(2)(k)
- Reg. 2(l)
Parties
- Trade Money Research (Prop. Mr. Kamlesh Verma)
Holding
Trade Money Research and its sole proprietor Shri Kamlesh Verma were found to be acting as an investment adviser without registration, in violation of Section 12(1) of the SEBI Act, 1992 read with Regulation 3(1) of the IA Regulations, and their misleading website representations were found to be fraudulent in violation of Regulation 4(2)(k) of the PFUTP Regulations.
Full text
Final Order against Trade Money Research (Prop. Kamlesh Verma) – Unregistered Investment Advisor Page 1 of 10 WTM/AB/WRO/WRO/11629/2021-22
Final Order against Trade Money Research (Prop. Kamlesh Verma) – Unregistered Investment Advisor Page 2 of 10 iv The Noticees shall not dispose of or alienate any assets, whether movable or immovable, or any interest or investment or charge on any of assets held in their name, including money lying in bank accounts except with the prior permission of SEBI.
Final Order against Trade Money Research (Prop. Kamlesh Verma) – Unregistered Investment Advisor Page 3 of 10 3. In the present case, from the screenshot images of the website of Trade Money Research, as available on record, the following claims/information made by the Noticees, were observed:
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Source: SecMarx — sebi:WTM/AB/WRO/WRO/11629/2021-22. 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.