Regulatory liability for brokers: specified breaches trigger monetary penalties, disciplinary suspension or prosecution under securities law. Amendments set out a regulatory enforcement framework under which the Board may impose monetary penalties, initiate enquiry proceedings including suspension or cancellation of registration, or pursue prosecution. Monetary penalties apply to specified breaches such as failure to file returns, maintain books, issue contract notes, deliver securities or payments timely, misuse of unpublished price sensitive information, fraudulent trading practices, commingling of client funds, dealing through unregistered intermediaries, and non-compliance with Board directions; separate provisions identify grounds for enquiry-based sanctions and prosecution for serious or criminal violations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Regulatory liability for brokers: specified breaches trigger monetary penalties, disciplinary suspension or prosecution under securities law.
Amendments set out a regulatory enforcement framework under which the Board may impose monetary penalties, initiate enquiry proceedings including suspension or cancellation of registration, or pursue prosecution. Monetary penalties apply to specified breaches such as failure to file returns, maintain books, issue contract notes, deliver securities or payments timely, misuse of unpublished price sensitive information, fraudulent trading practices, commingling of client funds, dealing through unregistered intermediaries, and non-compliance with Board directions; separate provisions identify grounds for enquiry-based sanctions and prosecution for serious or criminal violations.
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