SEBI bars JM Financial from new debt issue mandates due to regulatory norm violations.

JM Financial shares fell 8% after SEBI barred the company from new debt issue mandates due to violating regulatory norms. SEBI allowed JM Financial to continue managing existing mandates for 60 days. The Reserve Bank of India previously restricted JM Financial Products from providing financing against shares and debentures, including IPO loans. JM Financial will cooperate with SEBI during the ongoing investigation.