SEBI Fines Motilal Oswal Rs 7 Lakh for Violating Stock Brokerage Regulations

SEBI fined Motilal Oswal Financial Services Ltd Rs 7 lakh for regulatory violations during inspections from April 2021 to June 2022.

The company failed to resolve 26 investor complaints within 30 days, reported incorrect margins, misreported client securities, and wrongly parked Rs 3.5 crore of funds belonging to 39 active clients.

The penalties included Rs 1 lakh each for poor record maintenance and complaint handling, and Rs 5 lakh for overall non-compliance.

Although SEBI found no unfair gains, it stressed the need for compliance. The firm has 45 days to pay the fine.