ICICI Securities settles broker rule breach case with Sebi for Rs 80.4 lakh

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ICICI Securities settles broker rule breach case with Sebi for Rs 80.4 lakh - Business Standard

Quick Summary:

The order came after ICICI Securities filed a settlement application in August last year, requesting the regulator for the settlement of the adjudication proceedings under the Sebi's (Settlement Proceedings) rules."...the instant adjudication proceedings initiated against the applicant (ICICI Securities) vide show cause notice dated June 19, 2024, is disposed of in terms of the Settlement Regulations," Sebi's chief general manager and adjudicating officer N Hariharan said.

Brokerage firm ICICI Securities on Friday settled with markets regulator Sebi a case of alleged violation of stock brokers rules as well as other market norms after paying Rs 80.4 lakh towards settlement fee.

The case stemmed from a joint inspection conducted by Sebi and NSE in September 2023, covering the period from April to May 2023.