https://www.taxtmi.com/caselaws?id=292880 Misuse of client securities, acceptance of funds as deposits with assured returns, and discrepancies in networth and exchange data constituted proved breaches of the trading member code of conduct. The tribunal accepted the finding of violation because the material on record was substantial and the explanations did not displace it. However, the combined monetary penalty and five-day suspension were held disproportionate in light of partial compliance, including a chartered accountant's certificate and rectification of the networth requirement. The sanction was therefore modified by retaining the monetary penalty but replacing the suspension with a one-month restriction on enrolling fresh clients. en-us Tue, 26 Nov 2019 00:00:00 +0530 Mon, 11 Jan 2021 19:14:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292880 Misuse of client securities, acceptance of funds as deposits with assured returns, and discrepancies in networth and exchange data constituted proved breaches of the trading member code of conduct. The tribunal accepted the finding of violation because the material on record was substantial and the explanations did not displace it. However, the combined monetary penalty and five-day suspension were held disproportionate in light of partial compliance, including a chartered accountant's certificate and rectification of the networth requirement. The sanction was therefore modified by retaining the monetary penalty but replacing the suspension with a one-month restriction on enrolling fresh clients. Case-Laws SEBI Tue, 26 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292880