Motilal Oswal Financial Services controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2024
LockBit ransomware claim
LockBit claimed that it had compromised Motilal Oswal Financial Services and accessed confidential data. The potential effect on millions of clients and business systems was reported, but the verified scope of any disclosure remains unclear.
2022
SEBI penalty over client funds and margin reporting
SEBI imposed a INR 2.5 million penalty in May 2022 concerning alleged misuse of client funds and incorrect reporting of margins.
2019
NSEL-related broker investigations
Motilal Oswal was included among brokers investigated over alleged irregularities connected with the National Spot Exchange Limited matter. Allegations described in the reference material included misselling, KYC manipulation, client-code modification, illegal transactions and related conduct. The reference material states that SEBI declared the company not fit and proper as a commodity-derivatives broker in February 2019.