SEBI imposed a ₹4 lakh penalty on Goodwill Wealth Management for multiple regulatory violations identified during a thematic inspection.
Violations included failure to maintain client order evidence, outsourcing grievance redressal, and incomplete complaint documentation.
The broker settled 37 unauthorized trading complaints via payments, indicating internal control deficiencies.
Corrective actions were implemented post-inspection, but violations warranted monetary penalty under Section 15HB.