Get latest articles and stories on Latest News at LatestLY. Capital markets regulator Sebi has imposed penalties totalling Rs 57 lakh on 6 entities for indulging in front-running in the trades of Sterling Group. Latest News | Sebi Levies Rs 57 Lakh Fine on 6 Entities for Facilitating Front Running Activities.
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SEBI Bans 16 Entities For Front-Running Activities
SEBI has barred Manish Chaturvedi from the capital markets for seven years, while Madhu Chanda, Anandilal Chanda, Anandilal Chanda HUF and Jain have been barred for six years.
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Regulator Sebi on Friday barred 16 entities from the capital markets for up to seven years for indulging in front-running activities.
The entities have been prohibited from the capital markets for a period ranging from five to seven years. Of the 16 entities, six have been asked to disgorge illegal gains of nearly Rs 20 crore.
Front-running refers to an illegal practice in stock market where an entity trades on the basis of advance information from a broker or analyst before the information has been made available to their clients.
Synopsis
Front-running refers to an illegal practice in stock market where an entity trades on the basis of advance information from a broker or analyst before the information has been made available to their clients.
The order follows a Sebi probe into suspected front-running by certain entities between March 2009 to March 2011.
NEW DELHI: Regulator Sebi on Friday barred 16 entities from the capital markets for up to seven years for indulging in front-running activities. The entities have been prohibited from the capital markets for a period ranging from five to seven years. Of the 16 entities, six have been asked to disgorge illegal gains of nearly Rs 20 crore.