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<h1>Penalty for stock brokers: statutory sanctions apply for failing contract notes, settlement obligations, or charging excess brokerage.</h1> Section 15F imposes monetary penalties on registered stock brokers for three breaches: failure to issue contract notes as required; failure to deliver securities or make payments to investors within the time and manner set by regulations, subject to a continuing daily penalty and statutory cap; and charging brokerage above regulatory limits, with penalties tied to the excess brokerage and subject to statutory minima and calculation rules.