sebi:Order/VV/AK/2021-22/23
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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. 19
- s. 11B
- s. 11
- s. 15H
- s. 16
- s. 15I
- s. 15F
- s. 28A
- s. 24
- s. 15I(1)
Regulations
- Reg. 7
- Reg. 3
- Reg. 5
- Reg. 3(a)
Parties
- Omen Trading
Holding
The Noticee violated regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations by executing 32 non-genuine reversal trades in 4 illiquid stock option 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 respect of Omen Trading Page 2 of 24 in the matter of dealings in Illiquid Stock Options at BSE misleading appearance of trading in terms of artificial volumes in stock options and therefore were alleged to be manipulative and deceptive in nature. In view of the same, SEBI initiated adjudication proceedings against the Noticee for violation of the provisions of regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 (hereinafter referred to as the “PFUTP Regulations”).
Adjudication Order in respect of Omen Trading Page 3 of 24 in the matter of dealings in Illiquid Stock Options at BSE provisions of regulations 3(a),(b),(c),(d) and 4(1), 4(2)(a) of the PFUTP Regulations along with the SCN relevant trade logs and summary of the concerned transactions were provided as annexures to the Noticee.
Adjudication Order in respect of Omen Trading Page 4 of 24 in the matter of dealings in Illiquid Stock Options at BSE dated March 8, 2021 that the Noticee had withdrawn the Settlement Application filed by it in terms Regulation 7 of the SEBI (Settlement Proceedings) Regulations, 2018.
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Source: SecMarx — sebi:Order/VV/AK/2021-22/23. 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.