SEBI will check if leak of secret documents of various ministries has resulted in any insider trading.
The information contained in documents from various ministries, have been allegedly leaked and complaints have been filed for using this information for insider trading in stocks. SEBI chairman has expressed concern over this since any insider trading will directly impact SEBI, as per a report.
Reportedly SEBI has started probing into the issue of nexus between CAs, brokers and market operators. The Securities and Exchange Board of India said it is looking into the raised complaints and a multitude of other agencies are also prying into the reported leaks of documents.
The number of complaints is meagre (one or two) and the same have met with due receipt. Investigations are also on which includes analysing trading and share price trends in public and private companies across banking, pharmaceuticals and energy sectors. However, a certain amount of time will be required for completion of the process, stated UK Sinha, Chairman SEBI in the report as a response to being questioned if regulator is looking into the case.
“SEBI will take its own time to monitor that, to investigate that because investigating these things will take its own time,” Sinha commented on the issue as mentioned in the report.
It has been reported that if the investigation progresses smoothly, further action would be taken by SEBI.
The issue has brought officials and corporates under surveillance and some individuals have been detained owing to the probe of CBI and Delhi Police into the case and sale of confidential documents at various ministries, says the report.
The case would be monitored under Insider Trading Regulations, Prevention of Fraudulent and Unfair Trade Practices (PFUTP) norms, followed by stern penal actions, says the report.
It is also being suspected whether the documents were leaked to manipulate the stocks of various companies including by the Chartered Accountants, consultants, brokers and even the company promoters and executives, as stated in the report.
Reportedly SEBI has started probing into the issue of nexus between CAs, brokers and market operators. The Securities and Exchange Board of India said it is looking into the raised complaints and a multitude of other agencies are also prying into the reported leaks of documents.
The number of complaints is meagre (one or two) and the same have met with due receipt. Investigations are also on which includes analysing trading and share price trends in public and private companies across banking, pharmaceuticals and energy sectors. However, a certain amount of time will be required for completion of the process, stated UK Sinha, Chairman SEBI in the report as a response to being questioned if regulator is looking into the case.
“SEBI will take its own time to monitor that, to investigate that because investigating these things will take its own time,” Sinha commented on the issue as mentioned in the report.
It has been reported that if the investigation progresses smoothly, further action would be taken by SEBI.
The issue has brought officials and corporates under surveillance and some individuals have been detained owing to the probe of CBI and Delhi Police into the case and sale of confidential documents at various ministries, says the report.
The case would be monitored under Insider Trading Regulations, Prevention of Fraudulent and Unfair Trade Practices (PFUTP) norms, followed by stern penal actions, says the report.
It is also being suspected whether the documents were leaked to manipulate the stocks of various companies including by the Chartered Accountants, consultants, brokers and even the company promoters and executives, as stated in the report.
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