Sebi on Monday barred Capproin Financial Advisory Services (CFAS) and its partners from the securities markets for three years for providing investment advisory services without the market regulator’s authorisation.
Capproin Financial Advisory Services is a partnership firm and its partners — Sourabh Rai and Jasmeet Kaur Bagga.
The order came after Sebi received complaints through the market watchdog’s SCORES (SEBI Complaints Redress System portal) platform against CFAS and its partners.
Thereafter, the matter was examined by the regulator to ascertain whether there had been any violation of the provisions of IA (Investment Advisers) norms.
Further, a show cause notice was issued to CFAS and its partners in March 2020.
In its order, the regulator found that CFAS and Rai were never registered with Sebi in any capacity as an intermediary. However, Bagga was registered with the regulator in her capacity as proprietor of Research Infotech.
According to Sebi, CFAS, Rai and Bagga were
| Subscribe To Our Free Newsletter |
