SEBI Fines Motilal Oswal ₹3 Lakh for Stock Broker Norm Violations

The Securities and Exchange Board of India (SEBI) has imposed a ₹3 lakh penalty on Motilal Oswal Financial Services for breaching stockbroker regulations under SEBI (Stock Brokers) Regulations, 1992. 

SEBI’s inspection found that Motilal Oswal allowed trading terminals to operate from unauthorized locations and permitted unapproved users.

The broker also failed to identify and report fund-based activities between authorized persons and clients, violating regulatory norms. 

SEBI stated, “Such lapses undermine market integrity.” The regulator directed Motilal Oswal to pay the penalty within 45 days and ensure strict compliance with all regulatory provisions.