Cracking down on insider trading is such an uphill task that SEBI almost always comes short. The number of insider trading convictions that have stood up to scrutiny before the Appellate Tribunal is negligible
Shrewd promoters are using the crisis as an opportunity to strengthen company balance sheets
In addition, he was also indulged in fraudulent trading activities in the shares of Incap.
When it looks like the world is falling apart, these level-headed corporate honchos are visualising a better future and putting their money in the business that they best understand – their own.
The reward offered is too hedged by conditions to be enticing to whistle-blowers
A new stock exchange circular not only places promoters and employees of a listed company at a detrimental position but also poses challenges for the firm itself in terms of planning of corporate actions and raising funds.
Acting Manhattan US Attorney Joon Kim said Avaneesh Krishnamoorthy made approximately USD 48,000 in illicit profits through the insider trading scheme.
Bharti Airtel's promoter firm Indian Continent Investment has settled an alleged insider trading case after paying Rs 2.17 lakh towards settlement charges to regulator Sebi.
Sebi has settled a case involving a former Tech Mahindra official L Murali Madhvan, who allegedly violated insider trading norms with respect to sale of the company's shares, after he agreed to pay Rs 4.23 lakh as settlement fee.
Stock trades by entities privy to unpublished price sensitive information will be in violation of insider trading norms even if they are done indirectly under discretionary portfolio management scheme, according to Sebi.
Speaking to CNBC-TV18's Jude Sannith, A Vellayan said that the Sebi has disposed off the insider trading charges against him.
Insider trading thus denotes use of price sensitive information by vested interests to make private gains or to avoid losses.
According to the deal, Mallya will get a 10 percent discount on three prime USL properties in Goa, Delhi and Mumbai
According to SEBI, Jain and Srikanth had made the alleged gains to the tune of Rs 1.85 crore and Rs 19.69 lakh, respectively.
In a fresh order in the nearly seven-year old Satyam scam case, regulator SEBI on Thursday asked 10 entities linked to the main accused B Ramalinga Raju -- including his mother, brother and son -- to disgorge over Rs 1,800 crore worth of illegal gains made by them.
Besides, Jhunjhunwala has been ordered to disgorge about Rs 98.12 lakh within 45 days from the date of this order.
A Vellayan, chairman of Murugappa Group, released a statement today regarding charges of insider trading leveled against him.
New Insider Trading Regulations: Are You Guilty?
The new rules in itself are unlikely improve the conviction rate when it comes to insider trading. That is because Sebi‘s problem so far has not been in proving that the accused was an insider.
JN Gupta, former executive director, Securities and Exchange Board of India (Sebi) says the market regulator drafted the new guidelines in such a manner that will allow the market regulator to access data and information that it couldn‘t get earlier.
The Sebi board met today and took a slew of decisions just as we had been reporting through the last few days. Market regulator has tightened the insider trading norms. The definition of "connected person" has been widened and new anti-insider trading norms allow for due diligence and access to unpublished price sensitive information.
"There has been a demand for lowering the time for IPOs in India in keeping up with international practices," Ajay Vaidya of Kotak Mahindra Capital said.
Sebi has tightened insider trading norms by widening the definition of "insider" and "connected person".
The SEBI board has streamlined delisting norms by saying that a delisting is successful if 25 percent of public stake is tendered.
"We are revising our prevention of insider trading regulations because we have discovered cases... unfortunately the cases are not just from small companies but also from big ones," Sebi Chairman U K Sinha said.