SEBI adjudication order imposes ₹4 lakh penalty on stock broker Eastern Financiers for multiple regulatory violations by its Authorized Persons.
Violations include failure to maintain pre-order trade confirmations, operation of terminals by unapproved users, and lack of NISM certification for APs.
Additional breaches involved inadequate terminal segregation, delayed address updates, and failure to maintain proper supervision over AP activities.
Noticee admitted to most lapses but claimed no investor harm; penalty was imposed under Section 15HB of SEBI Act after considering factors under Section 15J.