|
December 27, 2005
PR No.
167/2005
Order against M/s. Yash Stock Brokers Pvt. Ltd.
Securities and Exchange Board of India (SEBI) has passed an order against M/s. Yash Stock Brokers Pvt. Ltd., (YSBPL) Sub Broker to M/s. JGA Shah Share and Stock Brokers Pvt. Ltd., Member, BSE Ltd. under regulation 13(4) of SEBI (Procedure for Holding For Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 and imposed a minor penalty of suspension of certificate of registration of YSBPL for a period of 2 (two) months. The order has been passed by Shri Madhukar, Whole Time Member, SEBI on December 21, 2005.
In the matter of Vision Technology Pvt. Ltd., SEBI appointed an Enquiry Officer to enquire in to the alleged violations of SEBI (FUTP) Regulations and SEBI(stock Broker) Regulations by YSBPL. Enquiry officer submitted his report and observed that YSBPL failed to exercise due skill and care while dealing with its clients thereby violated the code of conduct as laid down under Schedule II read with regulation 15 of Broker Regulations. Consequently, SEBI passed the order after considering the submission made by YSBPL.
The order will come into force with effect after the expiry of three weeks from the date of the order.
Mumbai
December 27, 2005
|
