Business Standard

Sebi imposes Rs 2.5 million penalty on Motilal Oswal Financial Services

Through such acts, Motilal Oswal Financial Services has violated regulatory norms and accordingly Sebi levied a fine on it.

Sebi
Premium

Photo: Shutterstock

Press Trust of India New Delhi
Capital markets regulator Sebi has imposed a penalty of Rs 2.5 million on Motilal Oswal Financial Services Ltd for misutilisation of clients' funds and incorrect reporting of the margin.

In addition, it has been charged for funding clients beyond the stipulated time period, failure to keep appropriate evidences of client order placement and discrepancies in CKYC (Central Know Your Customer) process among others, according to a Sebi order passed on Friday.
 
The order comes after Securities and Exchange Board of India (Sebi) conducted a comprehensive inspection of Motilal Oswal Financial Services with respect to its stock broking and depository participants'

Disclaimer: No Business Standard Journalist was involved in creation of this content

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in