Sebi Fines SMC Global Securities ₹1 Lakh for Compliance Lapses

The Securities and Exchange Board of India levied a ₹1 lakh fine on SMC Global Securities for order-record and supervision lapses.

The penalty followed a thematic inspection conducted for the period between January and September 2024 regarding client order placement.

Sebi found the broker failed to maintain pre-order placement records and inadequately monitored bank accounts linked to an authorized person.