Wednesday, November 28, 2012
4 Indian brokerage penalty imposed by the SEC
U.S. stock market regulator Securities and Exchange Commission (SEC), the 4th Indian brokerage firms found guilty of violations. Ambit Capital, Edelweiss Financial Services , JM Financial Institutional Securities and Motilal Oswal Financial Services is fined $ 18 million to the SEC.
These brokerage companies without registration is accused of providing services to institutional investors.