SBI-SG Global pays Rs 29.25 lakh, settles FPI violation case with Sebi

SBI-SG Global Securities Services on Friday settled a case related to an alleged violation of FPI (foreign portfolio investors) rules and other regulatory norms with Sebi by paying Rs 29.25 lakh towards settlement charges.SBI-SG Global Securities Services Pvt Ltd (applicant) is a Sebi-registered designated depository participant (DDP).The order came after SBI-SG Global Securities Services submitted a settlement application, requesting for settlement of the adjudication proceedings under the Sebi's settlement regulations."In view of the acceptance and the compliance of the settlement terms by the applicant, the instant adjudication proceedings initiated against the applicant (SBI-SG Global Securities Services) vide show cause notice dated May 08, 2024, is disposed of in terms of the settlement regulations," Sebi's chief general manager and adjudicating officer N Hariharan said in the order.The Securities and Exchange Board of India (Sebi) had undertaken an inspection of the SBI-