Description

SEBI restrains Priyanka Yadav from securities market activities for 2 years due to violations of research analyst regulations.

Summary

SEBI has issued Order No. QJA/MN/MIRSD/MIRSD-SEC-2/31552/2025-26 dated July 29, 2025, restraining Priyanka Yadav (Proprietor of Trade Money Research, PAN: AFWPY1505P) from buying, selling or dealing in securities, including mutual fund units, for a period of 2 years. The order also prohibits any association with securities markets or undertaking research analyst services.

Key Points

  • Priyanka Yadav (registered Research Analyst INH000010991) is debarred for 2 years from July 29, 2025
  • Violations identified during SEBI onsite inspection on October 8-9, 2024 in Nagpur and Indore
  • Activities were being conducted by Mr. Sandeep Yadav, a person already debarred by SEBI
  • Open F&O positions are permitted to be squared off despite the restraint
  • NSE members advised to ensure compliance and take note of the restrictions

Regulatory Changes

No new regulatory changes introduced. This is an enforcement action under existing SEBI Research Analyst Regulations, 2014.

Compliance Requirements

  • NSE members must ensure Priyanka Yadav cannot deal in securities through their platforms
  • All securities market activities by the debarred entity must be prevented
  • Members should refer to the consolidated list of debarred entities on NSE website
  • Any queries should be directed to dl-invsg-all@nse.co.in

Important Dates

  • July 29, 2025: SEBI order date and start of 2-year debarment period
  • July 29, 2027: End of debarment period
  • October 8-9, 2024: SEBI onsite inspection dates that led to violations being identified

Impact Assessment

The impact is limited to the specific research analyst entity and clients who may have been receiving services from Trade Money Research. The debarment prevents potential harm from continued violations of research analyst regulations, particularly the involvement of a previously debarred individual in securities market activities. NSE members need to update their compliance systems to block transactions from this entity.

Impact Justification

Individual research analyst debarment affects specific entity but not broad market operations