The Securities and Exchange Board of India (SEBI) has slapped a penalty of Rs 3 lakh on Emkay Global Financial Services for violating brokers' norms, including not settling funds and securities of most of the inactive clients.
The SEBI initiated adjudication proceedings against the brokerage house for the alleged violation of brokers' norms and found that the value of unsettled amount for inactive accounts during 2013-14 was Rs 1.76 crore and 2014-15 (till December 2014) was Rs 3.90 crore.
Emkay Global Financial Services offers the entire gamut of advisory services under one roof. Right from investing, trading, research and financial planning to portfolio management services, it provides its clients with integrated, robust and reliable solutions to satisfy all their financial needs.
