Angel One settles Sebi case for Rs 4.28 crore over supervisory lapses
Auf einen Blick
- Angel One has settled a securities law violation case with Sebi for ₹4.28 crore, resolving allegations of supervisory lapses concerning two authorised persons.
- The regulator cited failure to monitor fund collection, trading patterns, and social media promotions.
KI-generierte Zusammenfassung
Warum es wichtig ist
Angel One settled a case with Sebi regarding allegations of failing to adequately monitor its authorised persons' activities, including unauthorized fund collection and improper social media promotions.
Mumbai: Angel One has settled a case of securities law violation with market regulator Sebi by paying ₹4.28 crore as settlement amount to resolve allegations of supervisory lapses involving two of its authorised persons.
The regulator has alleged that the broker failed to adequately monitor the activities of authorised persons Deepankar Barman and Nadella Srinivas Rao.
The regulator alleged that Angel One failed to identify unauthorised fund collection activities, disproportionate trading patterns and improper social media promotions by its authorised persons. It also alleged that the broker failed to conduct adequate due diligence during inspections, did not take timely action against suspicious activities and failed to identify that the authorised persons were trading through other stock brokers.
Offene Fragen
- Will there be further regulatory action?
- What internal changes will Angel One implement?
