Description
SEBI issues recovery certificate against L REXWIN, Vinothkumar B, and Karthikayani for operating unregistered investment advisory services.
Summary
SEBI has issued Recovery Certificate No. 8838 of 2025 dated July 23, 2025, demanding payment from L REXWIN (PAN: AYUPR7527H) in individual capacity and as proprietor of SURE SHOT FUTURE ADVISORY SERVICE, along with Vinothkumar B (PAN: BFIPV5112G) and Karthikayani (PAN: BORPK9951G) for violations related to unregistered investment advisory services.
Key Points
- Recovery certificate issued against three individuals/entities
- Violation relates to operating unregistered investment advisory services
- L REXWIN identified both individually and as proprietor of SURE SHOT FUTURE ADVISORY SERVICE
- All parties have identifiable PAN numbers for enforcement
- Certificate dated July 23, 2025
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI regulations governing investment advisory services.
Compliance Requirements
- Named parties must comply with the demand notice
- Investment advisory service providers must ensure proper registration with SEBI
- Entities operating investment advisory services without registration face enforcement action
Important Dates
- Recovery Certificate Date: July 23, 2025
- Certificate Number: 8838 of 2025
Impact Assessment
This enforcement action reinforces SEBI’s commitment to regulating investment advisory services. While specific to the named parties, it serves as a warning to other unregistered operators. The impact is primarily on compliance standards rather than broader market operations.
Impact Justification
Enforcement action against unregistered investment advisors - significant for compliance but limited market impact