Sebi penalises SMC Global Securities with Rs 1 lakh fine
In short
Sebi has fined SMC Global Securities Rs 1 lakh after an inspection found problems with client order records. The report says the review covered January to September 2024 and also pointed to issues tied to unauthorized trading and client transactions handled by Amit Lilhare.
This matters because SMC Global Securities works under Sebi rules and serves investors through stock exchanges. The reporting does not say if the company will challenge the fine or face more penalties.
What the reporting says
Sebi imposed a Rs 1 lakh penalty on SMC Global Securities after an inspection found compliance lapses in client order-placement records. The publisher summary says the examination covered January to September 2024 and flagged issues related to unauthorized trading and the handling of client transactions by authorized representative Amit Lilhare. It is not stated whether the firm will appeal or whether further action will follow.
Why it matters
Sebi imposed a Rs 1 lakh penalty on SMC Global Securities after an inspection found compliance lapses in client order-placement records. The summary says the review covered January to September 2024 and flagged unauthorized trading concerns linked to authorized representative Amit Lilhare’s client transactions. The action affects the broker’s regulatory standing, but the reporting does not mention an appeal or any further sanctions.