Smc Global Securities Limited has informed the Exchange about Delay/default in the payment of fines/penalties/dues etc. to authority
SMCGLOBAL · price
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SEBI has passed an adjudication order against SMC Global Securities Limited imposing a monetary penalty of ₹2,00,000 under Section 15HB of the SEBI Act. The penalty stems from a SEBI inspection conducted on June 18-19, 2024 covering April 2023 to April 2024, which found that 19 of 20 NSE trading terminals were operating from locations different from those declared to the exchange. The company admitted the lapse, saying terminals were shifted before exchange records were updated. Allegations regarding incorrect address details for 3 MCX and 2 NCDEX terminals were not established, with SEBI accepting these as typographical errors. The company has 45 days to pay the penalty, failing which recovery proceedings may be initiated. This is the 6th SEBI order against the company, with prior penalties ranging from warnings to a 3-month business restriction and fines up to ₹5 lakh.
The ₹2 lakh penalty is financially negligible for a brokerage firm, but the repeat nature of SEBI actions (6 prior orders) raises concerns about compliance culture. For shareholders, this is unlikely to materially affect stock price or operations but signals ongoing regulatory scrutiny.