Dated: 8th February 2016

NOTICE

Re: SEBI Adjudication Order No. AO/PJ/VP/01/2016, dated 29th January 2016

 

Attention of the Trading Members of the Calcutta Stock Exchange Ltd., is drawn to the Adjudication Order No. AO/PJ/VP/01/2016, dated 29th January 2016 issued by the Adjudication Officer of SEBI in the matter of M/s Sushil Financial Services Private Limited, a member of BSE, NSE & MCX-SX. 

 

The Adjudication Officer had issued an order against the Stock Broker M/s Sushil Financial Services Pvt. Ltd., for irregularities/deficiencies observed in SEBI Inspection and levied a penalty of Rs. 24 Lakhs on following grounds:

  1. Inter mingling of funds between securities client bank account and commodities client bank account.
  2. Using the credit fund balances of clients for purposes other than specified in the circulars.
  3. Not incorporating/ mentioning the word “Client Account” in the bank account name which is required as per the SEBI circular.

The detailed Adjudication Order is available at SEBI site www.sebi.gov.in & in CSE website www.cse-india.comTrading Members may ensure compliance with these requirements.

 

 

M.A.V.Raju

General Manager