Monday 23 February 2015

SEBI to Crackdown on Unlawful Traders

India’s stock market regulator, Securities and Exchange Board of India (SEBI) said it will look into recent crackdown on the alleged leak of classified official documents at the behest of corporate groups to ensure that such leaks were not used to push up or pull down the share prices of listed companies.

A senior SEBI official said depending on the progress of the inspection, which involves analyzing trading and share price trends in a host of energy companies including some large firms from private as well as public sector, further action would be initiated by the regulator.

Those found to have traded on the basis of stolen information from government offices could be probed under insider trading and prevention of fraudulent and unfair trade regulations. They would be subjected to stern penal action by SEBI, he added.

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