India's RBI fines HSBC ₹31.8 lakh over inoperative accounts and unclaimed deposits Change India's RBI imposed a ₹31.8 lakh penalty on Hongkong and Shanghai Banking Corporation for failing to host a searchable unclaimed-deposits database and to issue Unclaimed Deposits. Why it matters Supervisory authorities will treat unclaimed-deposit discoverability and deposit-traceability as enforceable compliance areas, bringing operational recordkeeping under closer review. Banks now confront heightened supervisory scrutiny and the prospect of escalation for procedural lapses in dormant-account management. The420 · Mar 22 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
SEBI settles enforcement proceedings against 111 brokers Change SEBI settled and closed enforcement proceedings against 111 stockbrokers under the Settlement Scheme on Association with Certain Algo Platforms, 2025, with each broker paying ₹1 lakh. Why it matters SEBI closed adjudication proceedings for 111 brokers through the 2025 Settlement Scheme, which allowed eligible brokers to settle pending proceedings by paying a fine without admitting or denying guilt. The scheme’s window opened June 16, 2025 and was extended to October 16, 2025. Each participating broker paid ₹1 lakh, producing total collections of ₹1.11 crore. The settled group spans major, mid-sized, and regional brokerages; SEBI’s probe had identified API integrations with 122 registered brokers. SEBI retained the right to revoke settlements if misrepresentation or breaches of settlement conditions are later established. The420 · Mar 21 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
