Page 4 - Securities Market

Sebi bans entities from market in unauthorised investment advisory case

Sebi on Wednesday barred Safe Trader and its proprietor Rajnandani Jalkhediya from the securities markets for providing unauthorised investment advisory services and also imposed a penalty of Rs 2 lakh on them. In addition, they have been asked to refund Rs 39.64 lakh collected from the clients as fees in respect of their unregistered investment advisory activities. In its order, Sebi found that the entities were providing investment advisory services without obtaining a registration certificate from the regulator, which was in violation of the provisions of Investment Advisers (IA) rules. The order revealed that over Rs 39 lakh were credited in the accounts of the entities between August 2020 and July 2021. "The noticees (Safe Trader and its proprietor) without holding a certificate of registration as investment adviser have knowingly disseminated false information/made misleading statements and held themselves out as investment adviser on their website. Thus, I find that the ...

Sebi bans 3 entities from securities market for insider trading activities

Sebi has slapped penalties totalling Rs 15 lakh on three entities and also barred them from the securities markets for one year for flouting insider trading rules with respect to the shares of VSL

Sebi bans CFAS, its partners from mkts for 3 yrs for unauthorised services

Sebi on Monday barred Capproin Financial Advisory Services (CFAS) and its partners from the securities markets for three years for providing investment advisory services without the market regulator's authorisation. Capproin Financial Advisory Services is a partnership firm and its partners -- Sourabh Rai and Jasmeet Kaur Bagga. The order came after Sebi received complaints through the market watchdog's SCORES (SEBI Complaints Redress System portal) platform against CFAS and its partners. Thereafter, the matter was examined by the regulator to ascertain whether there had been any violation of the provisions of IA (Investment Advisers) norms. Further, a show cause notice was issued to CFAS and its partners in March 2020. In its order, the regulator found that CFAS and Rai were never registered with Sebi in any capacity as an intermediary. However, Bagga was registered with the regulator in her capacity as proprietor of Research Infotech. According to Sebi, CFAS, Rai and Bagga were

Sebi moots measures to strengthen investor grievance redress mechanism

Capital markets regulator Sebi on Monday proposed ways to strengthen the existing complaint redressal process in the securities market by making use of online dispute resolution mechanisms. In its consultation paper, the regulator has suggested measures to deepen the existing Market Infrastructure Institution or MII-administered mediation and arbitration mechanism by making these processes more accessible and effective. MIIs are stock and commodities exchanges and depositories. Further, Sebi said these processes should be conducted online on an end-to-end basis using the capacity, technology, and other assistance of online dispute resolution institutions and proposed to modify the existing processes for the benefit of the investor. The proposed modifications in the existing MII-administered mediation and arbitration mechanism include re-labelling the IGRC (Investor Grievance Redressal Committee) process, providing for a sole mediator or arbitrator irrespective of the amount of the

Sebi bars AIFs from raising capital from non-compliant foreign investors

Foreign investor must be is a resident of the country whose market regulator is a signatory to either IOSCO multilateral MoU or has signed bilateral MoU with Sebi

Want to track your lifetime spend on Zomato, Swiggy or Amazon? Here's how

There are dozens of Google Chrome extensions that can help you take stock of how much you've spent

Sebi seeks to protect public shareholders' interests during CIRP

Non-promoter entities in bankruptcy-hit firms to be given opportunity to acquire shares

Sebi bans Mehul Choksi from securities market for 10 years, fines Rs 5 cr

Choksi is already facing Income Tax department and ED action

Sebi bars Momentum Tips, its proprietor from securities markets for 3 years

Sebi has barred Momentum Tips and its proprietor Ajay Kumar Mukhiya from the securities markets for three years for providing unauthorised investment services. The regulator issued a show cause notice to Momentum Tips and Mukhiya in September 2021. The market watchdog found that Momentum Tips and Mukhiya (noticees) were indulged in providing investment advisory services without obtaining registration from the Securities and Exchange Board of India (Sebi). The noticees have collected Rs 33.19 lakh during February-July 2019, Sebi said in an order on Tuesday. Sebi has directed the noticees to refund the money within three months received from the clients as fees in respect of their investment advisory services. Also, the regulator barred the noticees from the securities markets for a period of three years or till the expiry of three years, from the date of completion of refund to clients/investors, whichever is later. In addition, they shall not undertake investment advisory service

Sebi focuses on data, tech tools to detect malpractice in securities mkt

With an aim to strengthen transparency and fairness in the capital markets, Sebi is focusing on data tools to detect wrong-doing in the securities market as well as for its policy formulation. Apart from data, another focus area for the Securities and Exchange Board of India (Sebi) would be deployment of technology. "Data and technology are the two new tools that Sebi is building for itself," the regulator said, adding that the move would enhance transparency and fairness in the securities market. In its annual report for 2021-22, the regulator said it is increasingly using more and more data to detect wrongdoings in the markets, whether it is in respect of surveillance of trading or investigation into fraud or inspection of market intermediaries. In its decision making particularly in the context of policy formulation, the regulator said it "will rely more and more on data and eschew dogma in any form. The approach of decision making will be guided by principles and logic supporte

Sebi bars Impact Research, proprietor from securities market for 6 months

Markets regulator Sebi has imposed a six-month ban on Impact Research and its sole proprietor Nitin Neema from the securities market for providing advisory services without its authorisation. The watchdog had issued a showcause notice to them in August 2021. Sebi found that Impact Research and Nitin Neema (noticees) were engaged in investment advisory services without obtaining a certificate of registration. The amount of money prima facie to have been collected by the noticees was Rs 83.75 lakh during the period from September 2014 to December 2016, Sebi said in an order on Thursday. The regulator has directed the noticees to refund within three months the money received from investors as fees in respect of their unregistered investment advisory activities. Also, Sebi has barred the noticees from accessing the securities markets for a period of six months or till the expiry of six months from the date of completion of refunds to investors, whichever is later. In addition, they s

Sebi bans 3 individuals from markets for unauthorised investment advisory

Capital markets regulator Sebi has barred three individuals from the securities markets for providing unauthorised investment advisory services. Besides, they have been restrained from the securities markets for six months. The present proceedings emanate from a show cause notice dated July 31, 2021 issued by Sebi to RNS Global Capital and its proprietors' -- Lakhan Chouhan, Rohit Soni and Shivani Thakur -- alleging that they were engaged in unauthorised investment advisory services. Sebi had come across a website which belonged to RNS Global Capital in the archived pages as the web page is not active. On perusal of the web pages, it found prima facie that -- Chouhan, Soni and Thakur -- were engaged in giving advice relating to investing in, purchasing or dealing in securities or investment products, through their website. Chouhan, Soni and Thakur have been collectively referred to as noticees. The amount of money to have been collected by the noticees was Rs 1.20 crore for the p

ICICI Securities June quarter results rained on by overcast broking biz

ICICI Securities client growth moderated to 27.7 per cent to 450,000, while active customers rose only 5.3 per cent QoQ to 3.2 million

Bourses, people dealing in securities market to pay 18% GST on Sebi's fee

The new tax rate will be effective from Monday, the Securities and Exchange Board of India (Sebi) said in a circular.

Standardising regulatory prescriptions

Realisation of statutory objectives in the securities market requires absolute clarity of statutory provisions

Fidelity front running: Sebi slaps over Rs 4.28 cr penalties on 11 entities

Sebi on Friday slapped penalties worth more than Rs 4.28 crore on 11 entities for front running trades of 21 Fidelity Group entities besides barring them from the securities market for varying periods

Sebi amends rules to simplify procedure for transmission of securities

Sebi has revised the existing threshold limit for simplified documents to Rs 5 lakh from Rs 2 lakh currently for securities held in physical mode per listed issuer

Sebi comes out with terms of usage of data for securities market

Apart from the data made available free of cost, data which is chargeable should be appropriately identified as such in public domain: Sebi

Sebi launches mobile app 'Saa ₹thi' to create awareness among investors

Amid the growing trend of stock trading through mobiles, capital markets regulator Sebi on Wednesday launched its mobile App -- 'Saa ₹thi' to create awareness among investors about the basic concepts

Sebi issues simplified norms for processing investor's service requests

The capital markets regulator Sebi on Wednesday came out with simplified norms