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CLIENT FUNDS MISAPPROPRIATION
SC agrees to hear plea on Rs 500 cr UAE money decree in July as mediation failsThe Supreme Court will hear a plea concerning a Rs 500 crore money decree from a UAE court. Mediation efforts led by former Chief Justice U...- Saurabh Mukherjea-led Marcellus Investment Managers filed FIR against ex-CFO. Here's whyMarcellus Investment Managers filed a police complaint against ex-CFO Pankaj Harish Gupta for diverting Rs 1.18 crore for personal use. The...
- Financial adviser Murray McClune pleads guilty to $1.7 million client theftFormer financial adviser Murray McClune has pleaded guilty to stealing $1.7 million from elderly clients, funds he promised to invest. Inst...
- Sebi orders attachment of bank, demat accounts of Karvy Stock Broking, its CMDMarkets regulator Sebi on Thursday ordered the attachment of bank accounts as well as shares and mutual fund holdings of Karvy Stock Brokin...
- Sebi issues Rs 25-cr notice to Karvy Stock Broking, ParthasarathySebi in April 2023 barred KSBL and Parthasarathy from the securities market for seven years and also imposed a penalty of Rs 21 crore on th...
- Man swindles Rs 10.6 crore from company account, spends on clearing his 42 loans, wedding, honeymoonRaj Mukesh Ganatra allegedly embezzled Rs 10.6 crore from Trident Creation, inflating bills of 55 clients from 2014 to 2022 for personal ex...
- Sharepro Services case: Sebi slaps Rs 33 cr fine on 13 individualsThe order came after Sebi received an anonymous complaint dated October 20, 2015, and thereafter, it conducted an investigation to examine ...
- Sebi extends timeline to submit public comments on proposal concerning account aggregatorAn Account Aggregator (AA), a RBI-regulated Non-Banking Finance Company (NBFC), helps an individual securely and digitally access and share...
- Sebi floats consultation paper to improve safeguards within Account Aggregator frameworkSecurities and Exchange Board of India (Sebi) has released a proposal aimed at improving the safeguards within the account aggregator (AA) ...
- Sebi bars IIFL Securities from taking any new clients for 2 yearsThe regulator alleged that IIFL has not implemented Sebi rules framed in 1993 in its true spirit by 25 years. It has also continuously been...
- SEBI cancels Certificate of Registration of Karvy Stock BrokingA month ago, the Securities and Exchange Board of India had banned the brokerage from the securities market for misappropriating clients' f...
- Sebi bans Karvy Stock Broking, promoter from securities market for 7 years; fines Rs 21 croreWhile Parthasarathy has been restrained from holding the post of director, or any key managerial position in any listed public company and ...
- Sebi imposes securities market ban on 8 entities for misusing clients' fundsIndividually, the regulator has slapped a fine of Rs 5 crore each on BRH Wealth Kreators and BRH Commodities and Rs 1 crore on Anubhav Bhat...
- F&O traders prepare for new margin rulesCurrently, traders can use the value of the shares pledged with brokers as margins for futures and options trades. In November, Sebi had po...
- Sebi levies Rs 90 lakh fine on 8 entities for fraudulent trading in RTS Power Corporation's scripBesides, certain other individuals had entered into the sham transactions with the defaulting clients who were related to them and aided th...
- Stock bourses may get access to broker bank account details soonThe move is aimed at enhancing stock exchange scrutiny of brokers and comes as regulators and bourses have drawn criticism for the late det...
- Sebi refuses to lift market ban on Modex International, 2 othersThey were the directors of MISL during the period when the violations were committed by the broking house, according to the regulator order.
- Sebi confirms ban on BRH Wealth Kreators, 7 others from securities marketBRH Wealth Kreators Ltd was formerly known as BMA Wealth Creators Ltd.
- Sebi tightens rules for usage of client funds by brokeragesIn 2018, Sebi took action against atleast a dozen brokers for misappropriating client funds and securities.
- IL&FS Securities moves SAT against Sebi order on Allied FinancialIn February, Sebi had barred Allied Financial and others for misappropriating client securities and a host of other violations.
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