Sebi was slapping a fine of Rs 1 million on Axis Securities to violate the rules of stock brokers

22 February 2025

Capital Market Regulator Sebi has imposed a fine of Rs 1 lakh on Axis Securities for the rules of stock brokers as well as other regulatory standards. The regulator said in an order on Friday that the broker Pay FirM has to be paid within 45 days.

In the order of -1-Pana, Sebi found that Axis Securities failed to comply with regulatory action in many areas, including reports of discrepancies and improper management of client funds.

Market regulator discovered that Axis securities have inconsistencies in stock statements compared to its advanced supervision reporting and real holdings in depository accounts.

The Securities and Exchange Board, India F India (SEBI), also inspected that Axis Securities did not even resolve the funds and securities of the customers as per the choice received from the customers and also failed to provide retention statements with account details.

In addition, Brokerage Pay Firm passed on a penalty imposed by stock exchanges on its customers for short storage of upfront/non -upfront margins on it, Sebi said.

Stock Stock
Maximum return by investing in the right companies
By – Get certified by The Economic Times, India’s Top Business News Brand
Stock Stock
Ranko chart pattern made smooth
Bye – Kaushik Akiwatkar, derivative businessman and investor
Stock Stock
Candles make easy: a course of candlestick patterns
By – Ilarnmarkets, Financial Education by Stockage
Stock Stock
Dow theory smoothed
By – Vishal Mehta, an independent systematic dealer
Stock Stock
Market 101: Trendlines and velocity insights
By – Rohit Srivastava, Founder – IndiaCharts.com
Stock Stock
Markets 102: Mastering Sentiment Indicators for Swing and Standing Trade
By – Rohit Srivastava, Founder – IndiaCharts.com
Stock Stock
Market 103: Mastering trends with RMI and Techno-Funda insights
By – Rohit Srivastava, Founder – IndiaCharts.com
Stock Stock
Market 104: Options Trading: Kickstart your F&O Adventure
By – Saketh R, Founder- Quicklefa, Full Time Options Trader
Stock Stock
ROC Maid Easy: Master Course for ROC Stock Indicator
Bye – Sauradeep Day, Equity and Commodity Merchant, Trainer
Stock Stock
RSI made easy: RSI Trading Course
Bye – Sauradeep Day, Equity and Commodity Merchant, Trainer
Stock Stock
Technical analysis for each – a technical analysis course
By – Abhijit Paul, Technical Research Head, Fund Manager – ICICI Securities
Stock Stock
The introduction of technical analysis and candle principle
Bye – Dinesh Nagpal, Full Time Trader, Ichimoku and Trading Psychole Expert

Market Watch Ch Dog noted that Brokerage Pay FirM transferred customers’ securities to a “Client Unpacked Securities Account” with credit balance and did not address customer complaints.

In addition, in contact with Sebi politically exposed individuals and margin trading, which was exposed to a client’s margin collection, there were some discrepancies on the part of Axis Securities, in contact with increased politically open individuals and margin trading.

Accordingly, the regulator imposed a fine of Rs 10 lakh on Axis Securities.

The order came after Sebi inspected Axis Securities for the period from April 2021 to November 2022.

(Now you can subscribe to our Etmarkets WhatsApp channel)