{"id":211351,"date":"2025-01-09T08:42:34","date_gmt":"2025-01-09T08:42:34","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/09\/stockholding-services-fined-rs-9-lakh-for-kyc-breach-times-of-india\/"},"modified":"2025-01-09T08:42:35","modified_gmt":"2025-01-09T08:42:35","slug":"stockholding-services-fined-rs-9-lakh-for-kyc-breach-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/01\/09\/stockholding-services-fined-rs-9-lakh-for-kyc-breach-times-of-india\/","title":{"rendered":"Stockholding Services fined Rs 9 lakh for KYC breach &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"225\" src=\"https:\/\/i1.wp.com\/static.toiimg.com\/thumb\/msid-117068451,imgsize-1233160,width-400,resizemode-4\/117068451.jpg?resize=400,225&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Stockholding Services fined Rs 9 lakh for KYC breach &#8211; Times of India\" title=\"Stockholding Services fined Rs 9 lakh for KYC breach &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"vdo_embedd\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>MUMBAI: Markets regulator Sebi has found broker Stockholding Services (formerly SHCIL Services, a subsidiary of Stockholding Corp) had failed to carry out proper due diligence of its clients. As a result, 1,103 of its clients were declared as &#8216;dependent children&#8217; aged between 34 years and 100 years. Sebi has fined the broker Rs 9 lakh.<br \/>The regulator had carried out an inspection of Stockholding Services between April 2022 and June 2023. During the inspection, it found that the broker had failed to do proper due diligence for several of its clients. <br \/>In one of its replies to Sebi, the broker said that it appeared that these clients were having a lack of clarity about providing a declaration of the mobile numbers and email IDs, along with providing relationship details. &#8220;We have a number of large old accounts of many senior citizens and others who did not have their individual email ID and mobile numbers at the time of account opening, when the regulatory requirements of exchanges were not applicable.&#8221; <\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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As a result, 1,103 of its clients were declared as &#8216;dependent children&#8217; aged between 34 years and 100 years. Sebi has fined the broker Rs 9 lakh.The [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":211352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-117068451,imgsize-1233160,width-400,resizemode-4\/117068451.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[12372,166831,289,7239,273,5596,166830,5957,166829,166828,3282,166832,166827,166826,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/211351"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=211351"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/211351\/revisions"}],"predecessor-version":[{"id":211353,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/211351\/revisions\/211353"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/211352"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=211351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=211351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=211351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}