May
23, 2011
PR No. 074/2011
Consent order on the application submitted by
Merrill Lynch Capital Markets Espana, S.A., S.V.
A Panel consisting of Whole Time Members, SEBI, Dr. K.M. Abraham and Shri Prashant Saran has passed consent order dated May 13, 2011 on the application submitted by Merrill Lynch Capital Markets Espana, S.A., S.V. for alleged non-compliance of Regulations 20 and 20 A of SEBI (Foreign Institutional Investors) Regulations, 1995, Clauses 1, 2, 5 and 6 of Code of Conduct as specified in Regulation 7A of FII Regulations read with the "Know your Client" (KYC) requirements as specified in Regulation 15A of FII Regulations read with SEBI Circular No. IMD/CUST/8/2003 dated August 8, 2003. The applicant without admitting or denying guilt has remitted a sum of ` 60,00,000/- (Rupees sixty lakh only) towards settlement charges, in the matter.
Mumbai
May 23, 2011
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