sebi:Order/PM/AB/2019-20/5241
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Facts / Headnote
Violation established; penalty of Rs. 5,00,000 imposed under Section 15HA of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 2(1)
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 3(a)
- Reg. 4(2)(a)
- Reg. 2(1)(c)(2)
- Reg. 2(1)(c)(7)
- Reg. 2(1)(c)(8)
Holding
The Noticee violated Regulations 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations by executing 58 non-genuine reversal trades in 24 illiquid Stock Options contracts at BSE, and is liable to a monetary penalty of Rs. 5,00,000 under Section 15HA of the SEBI Act.
Full text
Adjudication Order in the matter of dealing in Illiquid Stock Options at the BSE Page 2 of 13 Trading Practices related to Securities Markets) Regulations, 2003 (hereinafter be referred to as, the “PFUTP Regulations”).
Adjudication Order in the matter of dealing in Illiquid Stock Options at the BSE Page 3 of 13 d) A summary of dealings of the Noticee in the 24 Stock Options contracts in which the Noticee executed non-genuine reversal trades during the Investigation Period are as under: Table 1: Summary of trading of the Noticee in Illiquid Stock Options on BSE
Adjudication Order in the matter of dealing in Illiquid Stock Options at the BSE Page 4 of 13 “SEBI (Prohibition of Fraudulent and Unfair Trading Practices Related to Securities Markets) Regulations, 2003
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