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February 25, 2000
PR No. 53/2000
Warning to Brokers
Secondary Market Department
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The Securities and Exchange Board of India (SEBI) has warned Shri Preet Mohinder Singh, member of Ludhiana Stock Exchange (SEBI Reg. No. INB 120711915) for not maintaining proper segregation between own funds and clients' funds, for dealing with brokers of other stock exchanges on behalf of clients without getting registration as sub-broker with SEBI and for not reporting all the off-the-floor transactions to the Exchange.
The warning has been served in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Rules & Regulations, 1992.
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The Securities and Exchange Board of India (SEBI) has warned M/s H. Nyalchand Financial Services Ltd., member of Ahmedabad Stock Exchange (SEBI Reg. No. INB 020723530) for not reporting off-the-floor transactions to the Exchange, indulging in carry forward transactions and using stock exchange mechanism in order to meet financial obligations.
The warning has been served in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Rules & Regulations, 1992.
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