SEBI imposes ₹3 lakh penalty on Samco Securities for algo platform violations

SEBI imposes a penalty of ₹3 lakh on Samco Securities for violating regulations by associating with algo platforms making assured return claims.
The order cites violations of SEBI's September 2022 circular, as Samco's API was integrated with platforms like TradeTron, Quantman, and Speedbot.
The Adjudicating Officer rejected Samco's defense, noting its API integration and payment to TradeTron constituted an 'association' under the rules.
The penalty of ₹3 lakh was set considering the firm's past violations and association with three non-compliant platforms.