Motilal Oswal
Motilal Oswal Fined ₹3 Lakh — Here’s What Triggered the Penalty
Anthony Lane
SEBI has fined Motilal Oswal Financial Services ₹3 lakh for operating undeclared trading terminals, employing unqualified dealers, and allowing cash dealings by authorised persons. The 9 June 2025 order, covering April 2022–January 2024, underlines SEBI’s zero-tolerance approach to basic control failures. Though small in rupee terms, the penalty offers brokers, APs, and investors a clear checklist for staying compliant and safeguarding market integrity.
