BMA Wealth investors demand Karvy-like refund action



BMA’s clients allege that depository firm CDSL and stock exchanges did not act on their complaints, prompting them to protest before Sebi. They say their shares have been transferred to a pool account without their knowledge and have been used to avail loans. Clients alleged that BMA has pledged their securities with a leading private bank, who could have sold their holdings.



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Equity flows see sharpest drop, slip 78% in Nov



Equity MF schemes recorded worst inflows in three and a half years at Rs 1,311 crore for November. Investors across the board have taken money off the table as markets have scaled new highs. Industry experts said SIPs had stayed intact, which is a healthy sign for the MF industry.



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Karvy fiasco: How brokers exploited the loopholes



What’s required is proper implementation of the rules and better coordination between market intermediaries such as stock exchanges and clearing members who play a key role in monitoring brokerages.



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Sebi cites Karvy's illegal transfer of client money



After considering the facts and circumstances of the case including enormity of the prima facie violations observed against Karvy, Sebi in an order passed late night Friday said it would not be prudent to allow the use of PoA by Karvy given to it by its clients.



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Whistleblower's complaints are appalling: Nilekani



Nandan Nilekani said the co-founders have served the company “selflessly” and remain committed to the long-term success of Infosys.



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New Fema rules stump foreign-owned MFs



Market watchers believe that the change in guidelines fly in the face of some of the recent initiatives taken by the government, such as easing norms for foreign portfolio investors.



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