📌 At a glance:
- Entity: JRK Stock Broking Pvt. Ltd. (PAN: AABCJ8648K)
- SEBI Order Date: May 20, 2025
- Penalty: ₹1,00,000
- Inspection Period: April 2022 – November 2023
- Key Violations: Call recordings missing, NISM certification lapses, AP misconduct
📉 What triggered SEBI’s action?
SEBI conducted a thematic inspection of 7 Authorised Persons (APs) linked to JRK. What they found wasn’t pretty:
- ❌ No call recordings across all 7 APs — a direct violation of SEBI circulars aimed at curbing unauthorized trades
- ❌ No NISM certifications for any AP
- ❌ Terminals not at registered locations
- ❌ Client mobile numbers mapped to APs who were not family members
- ❌ In two cases, AP functions were handled by
