https://www.taxtmi.com/caselaws?id=775398 The SEBI Board found that the Noticee violated regulation 13(a) and 13(b) of the IA Regulations and clauses 1, 5, and 8 of the Code of Conduct by failing to update material information and carrying out unregistered investment advisory activities through two partnership firms. Although the violations related to non-updation were deemed technical and no client complaints were received, the Noticee's engagement in advisory services prior to registration and continued unregistered activities for over two years were considered serious breaches. The Board rejected the DA's recommendation against cancellation, viewing the Noticee's police complaint as a tactic to evade accountability. While mitigating factors such as cessation of activities and refund to clients were noted, the Board held these insufficient to overlook the infractions. Consequently, the Noticee's registration as an Investment Adviser was suspended for six months. en-us Wed, 26 Mar 2025 00:00:00 +0530 Fri, 25 Jul 2025 08:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775398 The SEBI Board found that the Noticee violated regulation 13(a) and 13(b) of the IA Regulations and clauses 1, 5, and 8 of the Code of Conduct by failing to update material information and carrying out unregistered investment advisory activities through two partnership firms. Although the violations related to non-updation were deemed technical and no client complaints were received, the Noticee's engagement in advisory services prior to registration and continued unregistered activities for over two years were considered serious breaches. The Board rejected the DA's recommendation against cancellation, viewing the Noticee's police complaint as a tactic to evade accountability. While mitigating factors such as cessation of activities and refund to clients were noted, the Board held these insufficient to overlook the infractions. Consequently, the Noticee's registration as an Investment Adviser was suspended for six months. Case-Laws SEBI Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775398