Mumbai, Sept 02: The Securities and Exchange Board of India has issued a show-cause notice to the governing board of Bangalore Stock Exchange for its alleged irregularities and lapses in the listing and price manipulation of securities of Home Trade, formerly known as Euro Asian Securities. The market regulator, after considering the exchange's written reply and oral submissions, warned the governing board to be more vigilant, cautious and careful in future in discharge of its functions as a self-regulatory organisation, Sebi said in a release here on Tuesday.

The regulator also suspended the certificate of registration of a member of the Stock Exchange, Calcutta (CSE) for one year for dealing in off-market transactions and negotiated deals, non-segregation of clients' and own funds and indulging in fund based activities.
Kandol Securities, the CSE member, will not be entitled to carry on business as a stock broker with effect from September 16 till September 15, 2004, Sebi said in a release. Bureau Report