SEBI proposes one time settlement for 14,720 entities for manipulative trades

Our Bureau Mumbai | Updated on July 27, 2020 Published on July 27, 2020

SEBI has proposed a one-time settlement opportunity for the entities that executed reversal of trades in the stock options segment on the BSE.

Out of 21,652 entities that executed trades on BSE stock options segment, a total of 14,720 were involved in generation of artificial volume by executing non-genuine or reversal trades on the same day. Further, of the 14,720 entities involved in generation of artificial volumes by executing non-genuine or reversal trades, SEBI said it has initiated adjudication proceedings against 567 entities.

The one-time settlement period will commence on August 1 and end on October 31, the Securities and Exchange Board of India (Sebi) said in a notice. After the expiry of the scheme, entities who do not avail the one-time settlement opportunity will be liable for action, it added.

Under the scheme, the entities who executed trade reversals on the stock options segment of BSE during the period April 1, 2014 to September 30, 2015, against whom any proceedings are pending, are eligible to avail the settlement opportunity.

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Published on July 27, 2020
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