Date:05/01/2005 URL: http://www.thehindubusinessline.com/2005/01/05/stories/2005010502321300.htm

Back SEBI suspends regn of PSE member

Our Bureau

Mumbai , Jan. 4

SEBI has suspended the certificate of registration of Mr Surendra Rasiklal Shah, member of the Pune Stock Exchange, for a period of 10 days. This is with effect from January 18.

The certificate of registration of Mr Shah as a sub-broker of the BSE and the NSE, affiliated to the subsidiary of PSE Securities Ltd, has also been suspended for the corresponding period.

The order has been passed by SEBI for non-maintenance of margin deposit book, deficiencies in maintenance of client database and off-the-floor transactions, among others. SEBI has also suspended the certificate of registration of Saikala Associates Pvt Ltd, a sub-broker affiliated to HSE Securities Ltd, member of the NSE, for a month with effect from January 17. The penalty is imposed for acting as an unregistered sub-broker, inadequacy in maintenance of client database and non-segregation of clients fund from own funds, according to a SEBI press release.