Capital markets regulator Sebi slapped Rs 94.5 lakh penalty on 17 entities for indulging in fraudulent trade practices in illiquid stock options segment on the BSE. The regulator, during the course of investigation between April 2015 and September 2015, found that 81.38 per cent of all the trades executed in the stock options segment involved reversal of buy and sell positions by the clients and counter-parties in a contract on the same day. These entities were among those "whose reversal trades involved squaring off transactions with significant difference in sell value and buy value of the transactions," Sebi said in similarly worded separate orders on Friday. It further said trades of the entities are non-genuine as they are not executed in normal course of trading, lack basic trading rationale, lead to misleading appearance of trading in terms of generation of artificial volumes, and are hence deceptive & manipulative. By indulging in such trades, the entities have violated ..
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Saturday, March 30, 2019
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Sebi slaps Rs 94.5-lakh fine on 17 entities for fraudulent trade practices
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Sebi slaps Rs 94.5-lakh fine on 17 entities for fraudulent trade practices https://ift.tt/eA8V8J
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