JM Financial Services Ltd.
 | |
| Public | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | 1986 |
| Founder 👔 | Nimesh Kampani |
| Headquarters 🏙️ | , , |
Area served 🗺️ | |
Key people | Nimesh Kampani (Founder & Non-Executive Chairman) Vishal Kampani (Vice Chairman & Managing Director) Dimplekumar Shah (MD & Co-Head, Investment Advisory and Distribution)[1] Nirav Shah (MD & Co-Head, Investment Advisory and Distribution) |
| Services | Stockbroking & Equity Trading Commodities Derivatives Wealth Management Portfolio Management Services IPO Depository services Investment advisory Mutual funds Insurance |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
JM Financial Services is a part of the JM Financial Group, headquartered in Mumbai, India. Incorporated in 1986 as a private limited company, it is a full-service Investment Solutions provider, catering to individual and institutional investors. JM Financial Services operates Pan India, across 225 cities from 60 branches and over 850 franchisees. The company also acts as a distributor of financial products across a network of over 14,000 financial distributors.
The company is a member of the Bombay Stock Exchange, National Stock Exchange of India, National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange of India (MCX) It is a depository participant with Central Depository Services Limited (CDSL) as well as an AMFI Registered Mutual Fund Distributor
Controversies
U.S. SEC fine
In 2012, the U.S. Securities and Exchange Commission (SEC) fined JM Financial and three other Indian securities firms, US$1.8 million for violating registration rules. The firms solicited and provided brokerage services to U.S. investors without being registered with the SEC as required under the federal securities laws.
Ban on managing debt issues
In June 2024, SEBI banned JM Financial from acting as a lead manager for public issues of debt securities until March 31, 2025, in a case of alleged irregularities in a public issue of non-convertible debentures (NCDs).[2]
References
- ↑ Agarwal, Nikhil (November 2024). "Large part of correction in PSU stocks over: Dimplekumar Shah, JM Financial". The Economic Times.
- ↑ Zachariah, Reena (2024-06-20). "Sebi confirms interim direction; bans JM Financial from managing debt public issues till Mar 2025". The Economic Times. ISSN 0013-0389. Retrieved 2024-06-21.
External links
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