Nuvama Wealth Management Limited has informed the exchanges that its material subsidiary, Nuvama Wealth and Investment Limited (NWIL), has received administrative warnings from the Securities and Exchange Board of India (SEBI) following observations made during a thematic inspection of its retail broking business.
According to the disclosure made on April 3, 2025, SEBI’s observations pertain specifically to operational processes relating to client onboarding and verification of shares pledged and invoked under the CUSPA framework. While SEBI did not impose any monetary penalties or restrictions, it advised NWIL to be cautious going forward and avoid recurrence of the highlighted issues.
The company has clarified that there is no financial, operational, or business impact from the warning. The letter from SEBI was received on April 2, 2025.
This disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Nuvama emphasized that it remains committed to regulatory compliance and will strengthen its operational practices accordingly.
Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to invest.
