Read more about Sebi plans framework to compensate investors for technical glitches on Business Standard. Sebi is considering a proposal to introduce a framework to ascertain the incidents of technical glitches whereby compensation would be given to investors
The Securities and Exchange Board of India (Sebi) on Wednesday imposed a penalty of Rs 1 crore on the National Stock Exchange (NSE) and Rs 25 lakh each on former heads Ravi Narain and Chitra Ramkrishna in a fresh order in the co-location case. The regulator dropped the allegations of fraudulent and unfair trade practices against NSE, Narain and Chitra and has charged them for violation of the Securities Contracts Stock Exchanges and Clearing Corporations (SECC) Regulations. The violation is of provisions pertaining to “equal, unrestricted, transparent and fair access to all persons without any bias.” “The violations in this case are serious in nature, even though there are no investor complaints on record arising out of such violations. Such nature of default with regard to non-adherence to the laid down obligations under the SECC Regulations as observed in this case would compromise the regulatory framework and should be dealt with by imposing monetary penalty on the no
Saturday: The Day Brokerage Houses Throw Clearing Firms Under the Gamestop Bus
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It s has begun.
Today Webull is throwing ETC under the bus, trying to justify why you can SELL a stock and not buy it.
The source link contains an explanation of what a Clearing Firm does.
ETC is the near-monopoly player in the industry.
TOPICS:
However, SELLING is fine.
I get that the firm SOMETIMES finances the trade during the two day clearing period of the stock.
What I DON T get is the following:
1. If the money is actually in your account, this doesn t make any sense. If you are buying on the margin, this explanation makes sense. Ergo, it should be OK to buy or sell any stock if you have the money in the account.
The Securities Appellate Tribunal (SAT) has stayed the Rs 6 crore penalty that markets regulator Sebi had imposed on NSE for allegedly investing in firms unrelated to the stock exchange business. Securities and Exchange Board of India (Sebi),in October, levied a fine of Rs 6 crore on National Stock Exchange (NSE) for allegedly investing in six companies unrelated or non-incidental to the stock exchange business. The six entities are CAMS and Power Exchange India Ltd (PXIL), NSEIT Ltd, NSDL E-Governance Infrastructure Ltd (NEIL), Market Simplified India Ltd (MSIL) and Receivables Exchange of India Ltd (RXIL). The noticee (NSE) had engaged, directly and/or through its wholly-owned subsidiary NSICL, in activities that are unrelated/non-incidental to its activities as a stock exchange by way of acquisition of stakes in PXIL, CAMS, NSEIT Limited, NEIL, MSIL, and RXIL without seeking approval of Sebi, the regulator had said in its order.