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The consultation paper has proposed to focus on reducing compliance costs for stock brokers while balancing investor protection.
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The referral partner programme had largely come to a standstill following regulatory directives; brokerages had made representations to the regulator to reconsider restrictions.
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The regulator issued an order on February 13
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The broker had been sent a showcause notice after SEBI's investigations prima facie showed that its dealer and an associate had front run trades of a big client
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The order said that the broker had failed to exercise due diligence over conduct of its AP
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In an order dated September 30, the regulator directed the brokerage to pay a fine of Rs 10 lakh
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In the order issued on September 30, the regulator noted various violations by the authorised person, including not maintaining evidence of client order placement
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In its order, the regulator said that the financial condition or future business plan are of no concern when deciding on established violations
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In the latest order, the SEBI fined the broker for discrepencies during client onboarding and not submitting data to the market regulator's inspection team
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According to the regulator's order, the entire buying that led to the price-rise was being financed through two firms--a non-banking finance company (NBFC) Superior Finlease and stock broker Indian Finance Guaranty Ltd (IFGL)--where Rajneesh Kumar was the director
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In a May 22 order, Sebi fined him and the brokerage Rs 8 lakh in total for violating Sebi (Probition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations and Broker Regulations
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The brokerage had to pay compensation to a trader who incurred losses due to the tech issue
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The platform will provide the service called Investor Risk Reduction Access, through which investors can square off or exit their positions when they face technical glitches on the broker platform
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Regulator has found the firm in violation of all seven allegations made and cancelled the registration
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The circular prescribes a modality for calculating scores of stock brokers based on various parameters, and any stock broker with a score equal to or greater than five will be identified as a Qualified Stock Broker.
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A guide to buying and selling shares through a stock broker.
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"One Person Company, as permitted under the Companies Act, 2013, is eligible to be registered as a stock broker, provided it satisfies the condition of minimum two directors, as stipulated under... the Securities Contract (Regulation) Rules, 1957," BSE said in a circular.
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The Securities and Exchange Board of India (Sebi) said MKM Finsec was involved in "fraudulent activities by issuing fictious contract notes and difference bill vouchers etc with the sole intention to facilitate some steel manufacturing companies to manipulate their book of accounts."
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Apart from Brooks, prohibitory order has been passed against its chairman Atul Ranchal, Managing Director Rajesh Mahajan, chief executive Durga Shankar Maity, chief financial officer Ketan Shah and company secretary Parvinder Kaur.
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However, Sebi has allowed the entity to continue with primary market activities that have been undertaken before today's order. It was alleged that the entity played an active role in aiding and abetting key operators in cornering of shares in IPO's of various firms.
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The share sale was part of Sebi's efforts to recover funds totalling nearly Rs 7 lakh from an entity named Ahilya Commercial Pvt Ltd, which had defaulted on payment of a penalty imposed by the regulator over four years ago.
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In a circular, the capital market regulator said that a stockbroker, who is not a bank, can take proprietary open position limits in currency derivatives.
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The move comes after the Securities and Exchange Board of India (Sebi) received representations from stock brokers and stock exchanges to review the penalty structure in cases of client code modifications.
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Market regulator Sebi today slapped a fine of Rs 1.5 lakh on Triveni Management Consultancy Services for allegedly not complying with norms related to dealings between client and stock broker.
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With an aim to avoid any undue benefits to certain brokers due to physical proximity of their systems with that of the bourses, Sebi on Friday proposed to bring in parity between the brokerages operating through systems placed within exchange premises and those at other locations.
