NEW DELHI: Sebi on Wednesday slapped a effective of Rs 11 lakh on brokerage agency IIFL Securities for flouting inventory dealer guidelines and different regulatory norms.
Sebi’s inspection was carried out for the interval starting April to July 2022. Thereafter, a present trigger discover was issued to IIFL on April 15, 2024 by the regulator.
In its 35-page order, Sebi noticed that the IIFL has admitted to the allegations acknowledged within the discover in respect of the month-to-month/quarterly settlement of consumer funds and securities stating that there was some technical error.
Sebi’s inspection was carried out for the interval starting April to July 2022. Thereafter, a present trigger discover was issued to IIFL on April 15, 2024 by the regulator.
In its 35-page order, Sebi noticed that the IIFL has admitted to the allegations acknowledged within the discover in respect of the month-to-month/quarterly settlement of consumer funds and securities stating that there was some technical error.
