https://www.taxtmi.com/caselaws?id=196754 A stock broker was found not to have violated the code of conduct for failure to exercise due skill, care and diligence because it had complied with KYC requirements, acted only on client instructions, and did not trade on its own account in the scrip. The record showed market activity and corporate announcements during the relevant period, while the connected clients also traded in other scrips through the broker. In the absence of substantial evidence of prior understanding, collusion, or any link beyond the ordinary broker-client relationship, mere execution of trades for connected clients was insufficient to establish misconduct. No monetary penalty was warranted. en-us Thu, 29 Jul 2010 00:00:00 +0530 Wed, 13 Dec 2017 16:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196754 A stock broker was found not to have violated the code of conduct for failure to exercise due skill, care and diligence because it had complied with KYC requirements, acted only on client instructions, and did not trade on its own account in the scrip. The record showed market activity and corporate announcements during the relevant period, while the connected clients also traded in other scrips through the broker. In the absence of substantial evidence of prior understanding, collusion, or any link beyond the ordinary broker-client relationship, mere execution of trades for connected clients was insufficient to establish misconduct. No monetary penalty was warranted. Case-Laws Companies Law Thu, 29 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196754