Will Fully Cooperate with Sebi in Probe into Public Issue of Debt Securities, Says JM Financial

JM Financial Ltd has said it would fully cooperate with capital market regulator Sebi in its investigation into the public issue of debt securities. The statement came after Sebi barred JM Financial from accepting new mandates to act as a lead manager for the public issue of debt securities, for flouting regulatory norms.

However, JM Financial can continue to act as a lead manager for the public issue of debt securities for a period of 60 days in case of existing mandates, Sebi said in its interim order on Thursday.

Further, the regulator will undertake an investigation into these issues, to be completed within six months. Following the order, JM Financial in a filing to the stock exchanges said, “The company shall fully cooperate with Sebi in this investigation”.