New Delhi, Jan. 30 -- India's capital market regulator, the Securities and Exchange Board of India (SEBI), on Thursday, January 30, fined the brokerage Motilal Oswal Financial Services (MOFSL) Rs.7 lakh after conducting an investigation over an alleged violation of stock brokerage regulations, reported multiple media outlets.

SEBI imposed the penalty on the stock broker after inspecting the allegations between April 1, 2021 and June 30, 2022.

"After taking into consideration the facts and circumstances of the case, materials available on record, submissions made by the Noticee and also the factors mentioned in the preceding paragraphs, in the exercise of the powers conferred upon me under Section 15-I of the SEBI Act, 1992 r/w Rule 5 of...