Sebi suspends UPSE broker
Sebi has suspended the certificate of registration of a Uttar Pradesh Stock Exchange (UPSE) broker, T G Financial Consultants Pvt Ltd for a period of one month with effect from September 21, 2006.
By PTI |
MUMBAI: Market regulator Sebi has suspended the certificate of registration of a Uttar Pradesh Stock Exchange (UPSE) broker, T G Financial Consultants Pvt Ltd for a period of one month with effect from September 21, 2006, for the irregularities found during inspection.
Inspection of the broker's books of accounts, documents and other records maintained during the period between February 2001 and September 2002 revealed certain irregularities as per the Securities and Exchange Board of India (Sebi) norms, said the order passed by V K Chopra, a whole-time Sebi member.
Among the irregularities Sebi investigations came across, the contract notes issued by the broker did not bear pre-printed serial numbers, the record of time of placement of order and the time of execution.
The broker also did not collect margins in two cases and non-segregation of clients funds and own funds, also the broker entered into off-the-floor transactions with another broker, Sebi said.
Inspection of the broker's books of accounts, documents and other records maintained during the period between February 2001 and September 2002 revealed certain irregularities as per the Securities and Exchange Board of India (Sebi) norms, said the order passed by V K Chopra, a whole-time Sebi member.
Among the irregularities Sebi investigations came across, the contract notes issued by the broker did not bear pre-printed serial numbers, the record of time of placement of order and the time of execution.
The broker also did not collect margins in two cases and non-segregation of clients funds and own funds, also the broker entered into off-the-floor transactions with another broker, Sebi said.
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