English Release 12-December 2013
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- National Consumer Helpline Records 6604 Calls in November, 2013
- Min of Earth Science
- Global Warming
- Weather Forecast
- Ministry of Finance
- DRI Asked to Focus on Better Trade Facilitation, Use of Latest Technology and Sharing of Information with Other Intelligence Agencies for Achieving Optimal Results
- Min of Home Affairs
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- Min of New and Renewable Energy
- Alternative Energy Sources
- Solar Power Stations in Bihar
- Generation of New And Renewable Energy
- Electricity Generation from Solar and Other Renewable Projects
- Min of Petroleum & Natural Gas
- Global crude oil price of Indian Basket increases marginally to US$ 107.75/bbl on 11.12.2013
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)