Sebi Fines Anand Rathi Share and Stock Broker Rs 10 Lakh for Regulatory Violations

Capital markets regulator Sebi imposed a Rs 10 lakh fine on Anand Rathi Share and Stock Broker for violating stock brokers' rules. The inspection revealed several non-compliances, including short margin collections and unreported technical glitches. The firm failed to adhere to regulatory guidelines, leading to the penalty.

Capital markets regulator Sebi imposed a fine of Rs 10 lakh on Anand Rathi Share and Stock Broker for violating stock brokers' rules and various other norms.

The penalty followed a comprehensive inspection conducted by the Securities and Exchange Board of India (Sebi) on the brokerage firm for the period from April 2022 to October 2023. The inspection found several instances of non-compliance with Stock Brokers regulations and directives from Sebi, NSE, and BSE.

Significant breaches included 55 instances of short collection of margins amounting to Rs 33.16 lakh and the non-reporting of technical glitches to relevant exchanges. Sebi's order emphasized that the firm failed to provide adequate documentation to support its claims of compliance, leading to the imposition of the fine.

(With inputs from agencies.)