Regulatory3 Oct 2026, 04:50 pm
SMC Global Securities fined ₹1 Lakh by SEBI
AI Summary
SMC Global Securities Limited has been fined ₹1,00,000 by the Securities and Exchange Board of India (SEBI) following a thematic inspection. The inspection, conducted from January 1 to September 30, 2024, focused on 'Verification of Unauthorized trading complaints and client order placement'. SEBI observed alleged non-compliances with SEBI (Stock Brokers) Regulations, 1992, including failure to maintain records related to client order placement and lack of supervision of Authorized Persons. An adjudication order was issued, imposing the penalty.
Key Highlights
- SEBI imposed a penalty of ₹1,00,000 on SMC Global Securities.
- The penalty stems from an inspection of trading complaints and order placement.
- Alleged violations include record-keeping and supervision deficiencies.
- The inspection period covered January 1 to September 30, 2024.
Price Impact
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