sebi:AO/SBM/EAD-1/12/2019
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Facts / Headnote
Penalty imposed on the Noticee for violation of PFUTP Regulations
Provisions invoked
- s. 11
- s. 11(4)
- s. 15
- s. 19
- s. 15H
- s. 12
- s. 15J
Regulations
- Reg. 12(1)
- Reg. 4(1)
- Reg. 3
- Reg. 2
- Reg. 2(c)
- Reg. 2(e)
- Reg. 3(a)
- Reg. 2(h)
- Reg. 12(2)
Parties
- Ms. Anitha Prabhu
Holding
The Noticee, Ms. Anitha Prabhu, was held liable for executing non-genuine reversal trades in illiquid stock option contracts on BSE, creating artificial volume, in violation of Regulations 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations, and a penalty of Rs. 5,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
_________________________________________________________________ Adjudication Order in the matter of Insider Trading in the scrip of Crisil Ltd Page 1 of 28
Page 2 of 16 contract on the same day. It was also observed that the aforesaid trades resulted into creation of artificial volume to the tune of 826.21 crore units or 54.68% of the total market volume in the Stock Options segment of BSE during the above mentioned investigation period. In view of the large scale reversal of trades that were observed in the illiquid Stock Options segment at BSE, it is alleged that these trades were non-genuine in nature.
Page 3 of 16 section 15HA of the SEBI Act for the aforementioned alleged violation of the provisions of law by the Noticee. SHOW CAUSE NOTICE, HEARING AND REPLY
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Source: SecMarx — sebi:AO/SBM/EAD-1/12/2019. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.