SEBI imposes a penalty of ₹1 lakh on Ashlar Securities for violating a 2022 circular by remaining associated with the TradeTron algo platform that displayed assured returns.
The Adjudicating Officer found Ashlar Securities in violation of SEBI's 2022 circular for failing to disassociate from TradeTron, which hosted strategies promising guaranteed returns.
The company's API remained integrated with TradeTron after the regulatory deadline, and it did not avail itself of a settlement scheme, leading to a monetary penalty.
The order requires payment of the penalty within 45 days, with recovery proceedings to follow in case of non-compliance.