Question
The Securities and Exchange Board of India (SEBI) has
banned IIFL Securities from onboarding new clients for how much tenure for alleged misuse of client funds?Solution
The Securities and Exchange Board of India (SEBI) has banned IIFL Securities from onboarding new clients for two years for alleged misuse of client funds. As per the SEBI order, IIFL Securities was mixing clients’ funds with its own funds before using those mixed funds for its own proprietary usage.
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