Axis Securities slammed with Rs 10 lakh penalty for violating stock brokers rules

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Times of India 7h ago

Axis Securities slammed with Rs 10 lakh penalty for violating stock brokers rules - Times of India

Quick Summary:

The penalty, stemming from an inspection covering April 2021 to November 2022, highlights issues like improper supervision reporting, unsettled client funds, and discrepancies in politically exposed persons' reporting.

Sebi has fined Axis Securities Rs 10 lakh for regulatory breaches, including misreporting and client fund mishandling.

The firm must pay within 45 days.