English Release 23-April 2014
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Overall Facts at A Glance of 6th Polling Day on 24th April, 2014
- Facts at a Glance: Jammu & Kashmir (6th Poll Day)
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DGCA Allows Use of Cellphone During Flight
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- Production Performance of Oil & Natural Gas sector for the month of March, 2014
- Global crude oil price of Indian Basket increased to US$ 107.08 per bbl on 22.4.2014
- Ministry of Railways
- Mobile and Desktop APP on Windows 8.0 for National Train Enquiry System (NTES) Commenced
Ministry of Finance06-December, 2012 17:39 IST
|Illegal Trading of Shares |
|Securities and Exchange Board of India (SEBI), the market regulator, has received complaints against some entities regarding alleged illegal trading of shares in various parts of the country. |
Whenever SEBI receives such complaints, the same are taken up with the stock exchanges, with an advice to examine the matter and report back to SEBI. In terms of the provisions of the SEBI Act, 1992 and Regulations made there under, SEBI has taken enforcement actions against a few intermediaries registered with SEBI, including passing restraint orders, cancellation of certificate of registration of stock brokers involved in such incidences, quasi-judicial proceedings, adjudication proceedings, consent and compounding and filing FIR with the Police. Further, the following measures have been taken by Government and SEBI.
(i) As a preventive measure, SEBI vide circular dated 29.09.2006, had made it mandatory for stock brokers to report off-market transactions to the stock exchange.
(ii) Further, with a view to impress upon the State Governments to take appropriate and timely action, the Government of India and SEBI had also written to all the State Governments and Union Territories, advising them to take urgent steps to contain illegal trading. SEBI, on its part, has initiated training programmes and guidance to State Police Departments to deal with instances of illegal trading.
This was stated by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Rajya Sabha today.
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(Release ID :90094)