HDFC Securities settles Sebi case by paying Rs 65 lakh over violations

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HDFC Securities settles Sebi case by paying Rs 65 lakh over violations - Business Standard

Quick Summary:

Domestic brokerage HDFC Securities on Tuesday settled with markets watchdog Sebi a case pertaining to alleged non-compliance with regulatory norms on payment of Rs 65 lakh towards settlement amount.

In its settlement order, Sebi said,"the instant adjudication proceedings initiated against the noticee viz., HDFC Securities Ltd, vide SCN (show cause notice)...dated August 8, 2024, are hereby disposed of".

The order came after the company filed an application with Sebi proposing to settle the alleged violations "without admitting or denying the findings of facts and conclusions of law" through a settlement order.