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    Question

    The Securities and Exchange Board of India (SEBI) has

    banned IIFL Securities from onboarding new clients for how much tenure for alleged misuse of client funds?
    A 5 years Correct Answer Incorrect Answer
    B 4 years Correct Answer Incorrect Answer
    C 3 years Correct Answer Incorrect Answer
    D 2 years Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Securities and Exchange Board of India (SEBI) has banned IIFL Securities from onboarding new clients for two years for alleged misuse of client funds.   As per the SEBI order, IIFL Securities was mixing clients’ funds with its own funds before using those mixed funds for its own proprietary usage.

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