Fwd: InvestorTalks- WHITHER JUSTICE FOR INVESTORS.

 

Dear Mr.Rajan,
Thanks for your response.
If you can send any misdeeds by any financial intermediary in dealing with any invetment products or any investor complaints which are duly supported by proper material evidence may be forwarde to me and I will take them through our TAMILNADU INVESTORS ASSOCIATION TO THE KNOWLEDGE OF SEBI.
THANKING YOU,
CA.N.VENKATESWARAN
 

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To: InvestorTalks@yahoogroups.com
From: rajan3r
Date: Mon, 28 Jun 2010 10:10:47 +0530
Subject: Re: InvestorTalks- WHITHER JUSTICE FOR INVESTORS.

 

EDEILWEISS HAS SAID IT WILL CHARGES FOR SMS RESEARCH DONE ETC. AT THE TIME OF ENROLLING IN THEIR DEMAT A/C
SUCH INFO HAS NOT BEEN GIVEN. ALSO THEY HAVE TAKEN TO FORMAT TO "SHARE INFORMATION" WITH THEIR CORPORATES.
ALL THESE ARE ILLEGAL.
SUCH ISSUES  NEED TO BE HIGHLIGHTED, IF NEED I WILL SEND SCANNED FORMATS IF U WILL TAKE UP WITH SEBI
REGARDS
RAJAN

On Fri, Jun 25, 2010 at 6:47 PM, Venkateswaran Narayanaswamy wrote:

FOLLOWING IS THE INFORMATION EXTRACTED FROM "CORPORATE INDIA" ISSUE DATED 30-06-2010.
SEBI has reportedly collected a huge fine from a few top ranking broking firmsin settlement of cases pending against them for fraudulent trades and cheating of investors. The names include firms like India Infoline, HSBC, Invest Direct, Motilal OswalSecurities etc. It is learnt that the highest fine of Rs.40 lakh, followed by India Infoline which is said to have paid Rs.25 lakhs. HSBC, InvestDirect
faced serious allegations of fraud for misuse of client's funds etc. and was insturcted to redress the investors' grievances.
 
Not surprisingly, the firms have just paid without either admitting or denying any faults or wrong doing on their part.They have not said anything about these issues on their websites which continue to talk about things like their achievements, awards won or investor service criteria met. Even media fail to highlight the wrongdoings of mighty money bags. All this is on expected lines. What is surprising is that the sufferers are not entitled to know the details of settlement. It is doubtful whether they would get any information through  RTI process. For ordinary investors, it seems the only rule to go by is the age old "caveat emptor" or "buyer beware".This perhaps explain why, despite the phenominal growth of the stock market in the last decade in terms of the number of companies listed or market capitalisation, the size of the investor population has de3clined from 21 million to 9 million.
 
FORWARDED BY
CA.N.VENKATESWARAN.

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