Date:22/12/2006 URL: http://www.thehindubusinessline.com/2006/12/22/stories/2006122205641500.htm

Back SEBI penalty on Kotak Securities

Our Bureau

Mumbai , Dec. 21

The SEBI has imposed a penalty of Rs 10 lakh on Kotak Securities for reportedly violating SEBI rules including granting trading terminals at places other than those specified by the regulator and also to non-authorised persons, committing irregularities in the maintenance of client data base and others.

The other alleged violations by Kotak Securities are not maintaining proper segregation between BSE and NSE client accounts and failing to collect upfront margins from clients among others.