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Reliance Securities has said that SEBI interim order, related to front-running by three dealers, is against them in their individual capacity. “Three dealers have not only violated internal and regulatory guidelines but have also given false undertakings. Their actions are clearly in breach of their undertakings given to RSL and also in violation of internal policy of RSL and SEBI rules and regulations,” it said and added they acted and indulged in the front-running activities outside the firm and through their own respective family and friends’ network. SEBI on Monday barred 27 entities connected to dealers of RSL for front running.
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