Sebi bans Proficient Research, its partners from markets for 4 years

Markets regulator Sebi on Monday restrained Proficient Research and its partners from accessing capital markets for four years for engaging in investment advisory services without obtaining requisite registration. Such certification is mandatory under Investment Advisers Regulations, 2013. Partners of partnership firm Proficient Research were Vidhi Singh Parihar, Mohd. Sohail Khan and Altamash Sheikh. No directions have been passed against Khan since he was a partner for only two months and then resigned with effect from September 1, 2014. Proficient Research had collected approximately Rs 48 lakh in the name of advisory fees during July 2014 to November 2016. Sebi has directed the firm, Vidhi Singh Parihar and Altamash Sheikh to refund the money received from the clients/investors, as fees or consideration or in any other form, in respect of their unregistered investment advisory activities carried out in the name of Proficient Research, within three months. Sebi further said th

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