BUSINESS
IA exposes clients to ‘risk of financial peril’ while charging ‘exorbitant fee’, fined Rs 35 lakh
The market regulator’s investigations revealed that the IA collected nearly Rs 1.95 crore from 748 clients between November 2, 2017, and April 30, 2019, and the order stated that the fee “appears to be unreasonably high”
BUSINESS
After eight years of regulatory tussle, man finally freed of a trading account he didn’t open
The trading account had been opened using forged documents in the name of Santosh Maruti Patil and used for conducting fraudulent transactions.
BUSINESS
MC Explains: What is instantaneous settlement and will it be challenging for FPIs?
The market regulator has shared its intent to move to a new settlement cycle, and market rumours have it that it may be by next year end
BUSINESS
MC Investigates: Prop brokers use the hawala route to receive payments for illegally renting out terminals
Traders who are reluctant to do business in cash are blacklisted by a cabal of brokers, and their access to prop trading terminals is cut off.
BUSINESS
I was sad when I resigned, but more pained about his resignation: Kotak veteran on Uday Kotak
Shekhar Iyer, part of the first batch of employees at Kotak & Co, went on to become Senior Vice President-Branch Operations at Kotak Life.
BUSINESS
Finfluencer Abhishek Kar admits to giving ‘buy’ and ‘sell’ calls in disguise, violates SEBI norms
This reveals the manner in which unregistered people sell investment advice to get subscribers for their trading courses.
BUSINESS
Exclusive| ‘Daredevil’ directors: 8 of their 9 firms probed for manipulating stock volumes; 6 fined, 2 dissolved
The total fine of the companies would amount to Rs 52.6 lakh, if we include the Rs 2 lakh fine imposed on one of the companies for violating the Code of Conduct for Stock Brokers
BUSINESS
Finfluencers, brokerages confused about SEBI proposal; experts answer six questions
The proposal to restrict regulated entities’ tie-up with unregistered finfluencers has raised a lot of questions. Even the current regulations say that a person cannot be appointed as an authorised person by more than one brokerage.
BUSINESS
Fake It Till You Make It: Shady Zerodha lookalikes peddle bogus P&L statements
Also, one can add strike prices and the profit and loss for any given day as required. These app also offer a URL which mimics the Zerodha URL
BUSINESS
Referral link is advertising, finfluencers must disclose Sebi registration details to host them: ASCI’s CEO
ASCI’s CEO and Secretary General Manisha Kapoor says one out of every four ads processed in FY 2023 showed violations by influencers. The digital medium accounted for 55% of violations in FY22. Council is now going for AI-based monitoring, she said.
BUSINESS
'Partner’ of leading brokerages accused of editing P&L for online traffic; brokerages largely noncommittal
The partner allegedly did this in a video that showed him making an ROI of 150 percent
BUSINESS
MC Investigation: Zerodha, Angel One, Motilal among brokers in ties with illegal advisors
Finfluencers use their channels to promote or recommend stocks to investors-- without being registered with Sebi--and then guide them to certain brokerages via links.
BUSINESS
Stock tips sans recorded rationale on Whatsapp, Telegram: Sebi fines RA Manish Goel Rs 60 lakh
Manish Goel was found in violation of various sections under the Sebi Act
BUSINESS
MC Exclusive: Top brokerages among more than 90 facing Sebi heat for 'partnership' with Tradetron
According to market sources, IIFL Securities, Angel One, ICICI Direct, Kotak Securities, Motilal Oswal Securities, Upstox, Sharekhan and Nirmal Bang were among those listed as partners brokers on the platform
BUSINESS
Sebi's regulatory shift? Industry body to craft norms for portfolio managers’ audit
APMI, in consultation with Sebi, to standardise terms-of-reference for audit
BUSINESS
How a ‘diplomat’ rigged GDR issues worth over $150 million, according to Sebi
Arun Panchariya has been involved in similar issues, going by investigations done by the regulator’s officials over a decade
BUSINESS
Oops! Investment Advisory tries to sell assured-return service to SEBI official, fined Rs 12 lakh
The advisory was found in violation of various regulations including PFUTP Regulations and the IA Regulations
BUSINESS
Delisting norms| Fixed-price model could be riskier for promoters: Ex Sebi ED Pratip Kar
Kar headed the committee that drafted the Delisting Guidelines in 2003, which introduced the reverse book-building process
BUSINESS
How furus manipulate `verified’ P&L statements to show profits on their trades
Furus, or fake financial gurus, display these statements to advertise their trading chops and sell their online stock-trading courses.
BUSINESS
SEBI plans to experiment with 'shift' in regulatory architecture: Chairperson Madhabi Buch
The market regulator is considering allowing industry players to set the standards to follow to meet compliance requirements
BUSINESS
MC Investigates: In low-volatility market, illegal renting out of prop accounts goes a step further
They are being 'sublet' by the tenants for a hefty fee
BUSINESS
Broker commits 'flagrant' violations and then ‘ghosts’ SEBI
Regulator has found the firm in violation of all seven allegations made and cancelled the registration
BUSINESS
Did this advisory firm proprietor just try to misdirect Sebi, and fail?
The market regulator ordered the the proprietor of Bigprofitbuzz to refund the fees collected as an unregistered investment advisor
BUSINESS
MC Investigates: Online dabba traders go all out to recruit sub-brokers, offering clients even 500x leverage
Higher shares of ‘brokerage’ and vertigo-inducing leverage are making it an attractive option, although it is an unregulated market and carries high risks.
