Description
SEBI issues notice of demand under RC No. 8857 of 2025 against Mr. Niraj Thakur, Proprietor of Empiric Trade, for conducting unregistered investment advisory services.
Summary
SEBI has issued a Notice of Demand dated August 7, 2025, under Recovery Certificate No. 8857 of 2025 against Mr. Niraj Thakur, Proprietor of Empiric Trade, for conducting unregistered investment advisory activities. This enforcement action represents SEBI’s continued efforts to crack down on unauthorized financial service providers.
Key Points
- Recovery Certificate No. 8857 of 2025 issued against Mr. Niraj Thakur
- Violation involves conducting investment advisory services without proper SEBI registration
- Empiric Trade identified as the business entity through which unauthorized activities were conducted
- Notice represents formal demand for recovery of penalties/dues
Regulatory Changes
This notice reinforces existing regulations requiring investment advisors to be registered with SEBI before providing advisory services to clients.
Compliance Requirements
- Investment advisors must obtain proper SEBI registration before commencing operations
- Entities providing investment advice without registration face enforcement action and recovery proceedings
- Proper compliance with SEBI’s Investment Adviser Regulations is mandatory
Important Dates
- Notice Date: August 7, 2025
- Recovery Certificate: RC No. 8857 of 2025
Impact Assessment
This individual enforcement action has limited direct market impact but serves as an important reminder to investment advisory service providers about the necessity of proper SEBI registration. It demonstrates SEBI’s active enforcement against unregistered entities and may deter similar violations by other unregistered advisors.
Impact Justification
Individual enforcement action with limited market-wide impact but important for regulatory compliance precedent