Sebi Slaps Rs 7 Lakh Penalty on Reliance Securities for Compliance Failures
The Securities and Exchange Board of India (Sebi) fined Reliance Securities Rs 7 lakh for violating stock broking norms. An inspection found incorrect margin reporting, non-compliance with risk-based supervision guidelines, and cybersecurity issues. Sebi ordered the penalty after discovering multiple discrepancies in the firm's data reporting.
- Country:
- India
The Securities and Exchange Board of India (Sebi) has imposed a penalty of Rs 7 lakh on Reliance Securities. The sanction comes due to the stock broker's failure to comply with established norms.
During an inspection from December 2022 to January 2023, Sebi found discrepancies in the daily margin statements and ledger balances reported by Reliance Securities.
Additional violations included non-compliance with risk-based supervision guidelines and cybersecurity lapses, prompting the regulatory body to levy the fine.
(With inputs from agencies.)
ALSO READ
Delhi Government to Conduct Comprehensive Cybersecurity Audit
Disney Slapped with $10 Million Penalty for Child Privacy Violation
E-Raksha Hackathon 2026: Pioneering Cybersecurity and AI Innovation at IIT Delhi
IndiGo Challenges GST Penalty of Over Rs 458 Crore
Jaipur school suicide: CBSE says school is liable for severest of penalty for gross violation of student safety norms.
Google News