Sebi settles a case in unfair trade practice
Markets regulator Sebi has settled a case with an individual on payment of nearly Rs46 lakh as settlement amount in relation to alleged violation of certain norms related to prohibition of unfair trade practices.
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New Delhi Markets regulator Sebi has settled a case with an individual on payment of nearly Rs46 lakh as settlement amount in relation to alleged violation of certain norms related to prohibition of unfair trade practices.
Sebi had received a complaint from Finsec Law Advisors alleging that Pawan N Agarwal and two others had violated certain provisions of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations with respect to trades of its client Aequitas. Aequitas is a Mumbai-based boutique investment firm. “Pursuant to the investigation, it was observed that Pawan N Agarwal... had mirrored certain trades of Aequitas and thereby violated the provisions... PFUTP Regulations,” the watchdog said while modifying a recent order through a corrigendum. Earlier, it was alleged that the individual had violated provisions of PFUTP by engaging in front running/ mirror trading of trades. The individual paid Rs45,99,600 as the settlement amount.
