Motilal Oswal Financial Services, SEBI fined on Anand Rathi shares

Market regulator SEBI has imposed a fine of Rs 7 lakh on Motilal Oswal Financial Services for alleged violation of securities laws. SEBI has accused the margin trading funding, reporting and lower collection of margin, disposal of complaints, uploading weekly data of cash and cash equivalent, and flaws in bank account maintenance. SEBI conducted a search operation in the stock broker between April 2021 and June 2022.

The regulator has imposed a fine of Rs 6 lakh on Anand Rathi shares for alleged flaws. The regulator inspected the broker between April 2020 to October 2020 and sent a show cause notice in October 2023. SEBI had made several allegations including alleged misuse of funds.

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