Illegal Investment Advisory: SEBI Asks Fraud Advisor To Refund Rs. 27.67 Lakh To Investors
3 months, 4 weeks ago

Illegal Investment Advisory: SEBI Asks Fraud Advisor To Refund Rs. 27.67 Lakh To Investors

Live Law  

The Securities and Exchange Board of India has imposed a one-year ban on Siddharth Pandey of Snigdha Equity Advisory following violations of regulatory standards concerning investment advisory services. SEBI's examination of Pandey's Know-Your-Customer documents, bank statements, and communication records uncovered that he was offering investment advisory services without the required registration. Further Pandey's online presence revealed a Facebook profile under the name "Snigdha Equity Advisory Cash," which listed his contact details and advertised advisory services. Additionally, Pandey was barred from conducting any investment advisory activities in the securities market, directly or indirectly until he obtains the requisite SEBI registration.

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History of this topic

SEBI Warns Against Trading Unlisted Securities on Unauthorized Platforms
1 week, 6 days ago

SEBI Warns Against Trading Unlisted Securities on Unauthorized Platforms

Deccan Chronicle  

The Securities and Exchange Board of India has issued a cautionary advisory to investors, warning against trading in securities of unlisted public limited companies on unauthorized electronic platforms.In a statement, SEBI highlighted that certain electronic platforms and websites have been facilitating such transactions, which violates the Securities Contract Act, 1956, and the SEBI Act, 1992. These laws are intended to …

Nithin Kamath hails SEBI orders on stock market scam says ‘quick buck is the surest way to lose money’
2 weeks, 2 days ago

Nithin Kamath hails SEBI orders on stock market scam says ‘quick buck is the surest way to lose money’

Live Mint  

Online brokerage platform Zerodha's co-founder and Chief Executive Officer, Nithin Kamath, cautioned investors via a social media post on platform X on Saturday, December 7, about the most certain way to lose money in the markets. Taking shortcuts to make a quick buck is the surest way to lose money in the markets,” said Nithin Kamath, highlighting an old saying …

Kanpur man loses Rs 7.7 lakh in scam while applying for PAN card online
3 weeks ago

Kanpur man loses Rs 7.7 lakh in scam while applying for PAN card online

India Today  

India is currently going through a digital transformation. In one such recent case, a man from Kanpur ended up losing Rs 7.7 lakh to scammers while attempting to apply for a PAN card online for his great-grandson. The scam occurred when the victim, Suresh Chandra Sharma, a resident of Navsheel Moti Vihar in Sarvodaya Nagar, was trying to obtain a …

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms
3 weeks, 3 days ago

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms

Live Mint  

Capital markets regulator Securities and Exchange Board of India on Friday, November 29, penalized Reliance Securities with ₹9 lakh for flouting market norms and stock broker rules. The order came after the regulator and exchanges, NSE and BSE, conducted a thematic onsite inspection of the books of accounts, records, and other documents of authorised persons of Reliance Securities Ltd, a …

SEBI imposes ₹9 lakh fine on Reliance Securities for ‘flouting market norms’
3 weeks, 3 days ago

SEBI imposes ₹9 lakh fine on Reliance Securities for ‘flouting market norms’

Hindustan Times  

The Securities and Exchange Board of India on Friday imposed a ₹9 lakh monetary penalty on Reliance Securities for “flouting market norms” and stock broker rules. According to a PTI report,the market regulator's order came after National Stock Exchange and Bombay Stock Exchange carried out a thematic onsite inspection of the books of accounts, records and other documents of authorised …

Sebi proposes revisions to custodian regulations
1 month, 1 week ago

Sebi proposes revisions to custodian regulations

Live Mint  

The Securities and Exchange Board of India has issued a consultation paper seeking feedback on proposed updates to the Sebi Regulations, which govern the operations of custodians in the Indian securities market. Given the importance of custodians in ensuring smooth market operations, especially for institutional investors, the consultation paper proposes several changes to enhance regulatory oversight and operational resilience. Sebi …

SEBI issues warning to ICICI bank for trying to influence shareholders to vote for delisting ICICI Securities
6 months, 2 weeks ago

SEBI issues warning to ICICI bank for trying to influence shareholders to vote for delisting ICICI Securities

Hindustan Times  

The Securities Exchange Board of India issued an administrative warning to ICICI Bank for trying to influence shareholders to vote in favour of delisting ICICI securities, ANI reported. A bird flies past the facade of the ICICI bank head office in Mumbai The market regulator, in a letter to the bank dated June 6, noted that it received several complaints …

Anti-money laundering: Sebi releases fresh set of guidelines. Details here
1 year, 2 months ago

Anti-money laundering: Sebi releases fresh set of guidelines. Details here

Live Mint  

The capital markets regulator Securities Exchange Board of India on Friday released a set of amendents on anti-money laundering standards and combating the financing of terrorism. Client is a company: The beneficial owner is the natural persons whether acting alone or together, or through one or more juridical person, has a controlling ownership interest or who exercises control through other …

SEBI Mandates Additional Disclosures By Foreign Portfolio Investors
1 year, 3 months ago

SEBI Mandates Additional Disclosures By Foreign Portfolio Investors

Live Law  

The Securities and Exchange Board of India has issued a circular aimed at promoting heightened transparency among Foreign Portfolio Investors meeting specific criteria. Although PN3 does not directly apply to FPI investments, there are apprehensions that entities with substantial Indian equity portfolios might misuse the FPI route, potentially disrupting the orderly functioning of Indian securities markets. Under Regulations 22 and …

Sebi’s plan to separate brokers from your money
2 years ago

Sebi’s plan to separate brokers from your money

Live Mint  

In the third week of October, brokers from across India had gathered at the Taj Lands End hotel in Mumbai for their first mega physical gathering since the onset of the pandemic. If Sebi’s plans go ahead, brokers will only execute buy or sell trades and no money from an investor’s bank account will go into a broker’s account. How …

Sebi bars entities from securities mkt for unauthorised investment advisory activities
4 years ago

Sebi bars entities from securities mkt for unauthorised investment advisory activities

Live Mint  

Stock market regulator has barred three individuals and two entities from the securities market for carrying out unregistered investment advisory activities. As per two separate interim orders, Equity Mania Financial Advisory and its proprietor -- Ankit Goel, Money Streets Advisory Services LLP and its partners -- Zulfiqar Ahmed and Ifteqaar have been directed to cease and desist from acting as …

Sebi bans 4 entities for providing unauthorised investment advisory services
4 years, 4 months ago

Sebi bans 4 entities for providing unauthorised investment advisory services

India TV News  

Sebi has barred Money Increase, Venture Revenue and two individuals from the capital markets for providing unauthorised investment tips and falsely promising assured returns to investors. Sebi found that Chourasiya through its proprietorship of Money Increase and Venture Revenue was providing trading tips and stock specific recommendations to investors and the general public on payment of services. "Ashish Chourasiya through …

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