To
All Trading Members of the Exchanges
Sub: Order in the matter of routing of funds to the Indian Securities market using overseas bank accounts with UBS AG.
SEBI vide its order no. QJA/AA/IVD/ID4/30592/2024-25 dated July 26, 2024, has inter-alia issued following directions:
· Noticee is hereby restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, for a period of three (3) years from the date of this order.
· The obligation of the debarred Noticee, in respect of settlement of securities, if any, purchased or sold in the cash segment of the recognized stock exchange(s), as existing on the date of this Order, can take place irrespective of the restraint /prohibition imposed by this Order only, in respect of pending unsettled transactions, if any. Further, all open positions, if any, of the Noticee debarred in the present Order, in the F&O segment of the stock exchanges, are permitted to be squared off, irrespective of the restraint/prohibition imposed by this Order.
This Order is effective from the date of the order.
A copy of the said Order is attached herewith and available on the SEBI website www.sebi.gov.in.
Trading members are advised to take note of the same and ensure compliance.
Umesh Hanjankar Vinayak Bhalavi
Investigation Regulatory Correspondence
Date: July 26, 2024 |