Anti-money laundering policy: Sebi slaps Rs 1.1 mn fine on A C Choksi firm

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May 2 2018

Markets regulator Sebi on Wednesday imposed a penalty of Rs 1.1 million (Rs 11 lakh) on A C Choksi Share Brokers for non-compliance with anti-money laundering policy, segregation of funds and settlement of running account of clients.

Sebi had conducted an inspection of books of accounts of A C Choksi during February-March 2015 to examine the compliance of certain requirements in respect of anti-money laundering compliance, segregation of funds and securities among others.