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NSE Bans Yes Securities Over Margin Penalty Misconduct
26 May
Summary
- Yes Securities barred from onboarding new clients for three months.
- Brokerage allegedly passed margin penalties onto its customers.
- NSE fined the firm ₹100,000 and ordered client refunds.
The National Stock Exchange of India has imposed a significant penalty on Yes Securities (India) Ltd, barring the brokerage from onboarding new clients for a period of three months. This disciplinary action stems from the exchange's finding that Yes Securities failed to maintain required upfront margins and subsequently passed on margin-collection related penalties to its customers.
As part of the ruling, the NSE's disciplinary committee has also levied a fine of ₹100,000 against Yes Securities. Furthermore, the firm has been directed to refund any affected clients within a strict 15-day timeframe, ensuring restitution for those impacted by the alleged misconduct.
