SEBI warns 3 NSE members for violating SEBI clause

Mumbai, May 22 (UNI) Securities and Exchange Board of India (SEBI) today issued warning to three NSE members in the matter of Morepen Hotels, asking the brokers ''to be careful in future while dealing in market''.

The three members of NSE include Toss Financial Services, GSB Securities, and Shreepati Holdings and Finance. They have been found to have violated Clause A (2) of the Code of Conduct as specified in Schedule II of Regulation 7 of the SEBI (Stock Brokers and Sub-brokers) Regulations, 1992, the SEBI said.

The three stock brokers have been warned that they should be careful in future and exercise due skill, care and diligence in the conduct of their affairs as capital market intermediaries.

The three stock brokers have also been directed to note that any instances of violation or non-compliance of the SEBI Act and Rules and Regulations in future shall be dealt with stringently.

UNI