Description
SEBI imposes penalty on Options King Research Analyst (Proprietor Sunil Suklal Pawar) for violations of qualification and certification requirements under Research Analysts Regulations.
Summary
SEBI has issued an adjudication order against Options King Research Analyst (SEBI Reg No: INH000003325), proprietor Sunil Suklal Pawar, for violations of qualification and certification requirements under the SEBI (Research Analysts) Regulations, 2014. The order follows a thematic inspection conducted for the period April 1, 2023 to September 30, 2024.
Key Points
- SEBI conducted thematic inspection of Options King Research Analyst from April 2023 to September 2024
- Violations found under Regulation 7(2) of SEBI (Research Analysts) Regulations, 2014
- Show Cause Notice issued on February 25, 2025
- Adjudication proceedings initiated under Section 15-I of SEBI Act, 1992
- Specific violation relates to qualification and certification requirements for Mr. Sunil Pawar
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action for existing compliance requirements under Research Analysts Regulations.
Compliance Requirements
- Research Analysts must meet qualification and certification requirements as per Regulation 7(2)
- Proper compliance with SEBI (Research Analysts) Regulations, 2014 is mandatory
- Research Analysts must maintain valid certifications throughout their registration period
Important Dates
- Inspection Period: April 1, 2023 to September 30, 2024
- SEBI inspection findings communicated: December 16, 2024
- Noticee reply submitted: December 20, 2024
- Adjudicating Officer appointed: February 7, 2025
- Show Cause Notice issued: February 25, 2025
Impact Assessment
This enforcement action reinforces SEBI’s commitment to ensuring research analysts maintain proper qualifications and certifications. It serves as a warning to other research analysts to ensure compliance with regulatory requirements. The action may impact Options King Research Analyst’s operations and reputation in the market.
Impact Justification
Enforcement action against research analyst for regulatory compliance violations, serving as precedent for industry