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Sebi slaps Rs 11 lakh fine on IIFL Sec for flouting rules

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NEW DELHI: Sebi on Wednesday slapped a fine of Rs 11 lakh on brokerage firm IIFL Securities for flouting stock broker rules and other regulatory norms.
Sebi’s inspection was conducted for the period beginning April to July 2022. Thereafter, a show cause notice was issued to IIFL on April 15, 2024 by the regulator.
In its 35-page order, Sebi observed that the IIFL has admitted to the allegations stated in the notice in respect of the monthly/quarterly settlement of client funds and securities stating that there was some technical error.



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