Expulsion against the appellant, from the membership of the ...

Expulsion from National Stock Exchange for Violating SEBI Regulations and Broker Code of Conduct, Clause 5, Schedule II.

December 2, 2020

Case Laws     SEBI     SC

Expulsion against the appellant, from the membership of the National Stock Exchange of India Limited - Schedule­ II of the SEBI (Stock Brokers and Sub­ Brokers) Regulations, 1992 prescribes a “Code of Conduct” for the stock brokers and clause 5 thereof specifies that compliance with statutory requirements is a mandatory aspect of code of conduct of a stock broker. The appellant consistently failed to comply with the requirements and acted in a manner which was prejudicial to the sanctity of a Member­ Exchange relationship. - SC

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