Angel One pays Rs 22 lakh to settle front running trade case with Sebi

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The story "Angel One pays Rs 22 lakh to settle front running trade case with Sebi" was covered 7 hours ago by Business Standard, a news publisher based in India.

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Angel One pays Rs 22 lakh to settle front running trade case with Sebi - Business Standard

Quick Summary:

Sebi had undertaken an investigation to ascertain whether there was any violation of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) rules by certain entities during the period from January 2021 to October 2022, who were consistently placing orders ahead of the Big Clients, including Bharat Kanaiyalal Sheth Family Trust in the equity (cash) segment of NSE and were squaring off the same.

The settlement order came after Angel One had filed a settlement application on May 15, 2024, proposing to settle the instant proceeding "without admitting or denying the findings of fact and conclusions of law".

"It is hereby ordered that the instant proceeding initiated against the Applicant, vide Show Cause Notice dated April 24, 2024, is disposed of," Sebi said.