Market regulator SEBI has issued an administrative warning to DAM Capital Advisors over operational deficiencies in its institutional broking business, the recently listed firm disclosed in an exchange filing on Friday.
The Securities and Exchange Board of India (SEBI) sent the warning and deficiency letter on March 20, based on an inspection conducted between February 1 and August 31, 2024, prior to DAM Capital’s listing. The regulator advised the firm to enhance vigilance in its operations.
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DAM Capital stated that it has addressed the identified issues and implemented necessary compliance measures to meet regulatory standards. The company also clarified that the SEBI notice does not impact its financials, operations or other business activities.
The warning, issued on March 20 (Thursday), followed a thematic inspection conducted in January 2025, focusing on the “Upstreaming and Downstreaming of clients’ funds”.
SEBI’s review highlighted areas requiring improvement, including delays in transferring client funds to the Clearing Corporation, incorrect brokerage crediting, and reporting deficiencies in the segregation file.
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