NNM Securities Cleared to Continue Stock Broking Amid Sebi Fines

NNM Securities clarified that it remains authorized to act as a stock broker, despite fines imposed by SEBI for regulatory violations. SEBI confirmed the brokerage's operational continuity, dismissing restrictions on its market role following penalties involving Bhatia Communications and Retail (India) Ltd.

NNM Securities, recently fined by SEBI, has clarified that the penalties do not impede its ability to operate as a stock broker. This came after SEBI's May 30 order, which involved several entities, including NNM Securities, in a case concerning regulatory breaches by Bhatia Communications and Retail (India) Ltd.

SEBI's penalties amounting to Rs 50 lakh, and other sanctions, led NNM Securities to seek clarity on its operational status. SEBI confirmed that NNM Securities can continue its activities as a registered stock broker unimpeded.

Despite the fines, which totaled Rs 10 lakh for NNM Securities, and restrictions on market access for other entities involved, the brokerage can still serve its clients, emphasizing its ongoing compliance with SEBI regulations.