Capital market regulator Sebi today imposed a penalty of Rs 5 lakh on Focus Shares & Securities for violating regulations governing stock brokers.
The Securities and Exchange Board of India (Sebi) found that Focus Shares & Securities had failed to segregate client's funds and misused client money for its proprietary trading. The firm has also transferred funds from and to the client accounts for meeting its obligation of proprietary trades.
Focus Shares & Securities is a stock broker registered on the BSE, the National Stock Exchange ( NSE) and Multi Commodity Exchange of India Ltd (MCX).
