SEBI Imposes ₹30 Lakh Penalty On Madhav Stock Vision And Others For Front Running LIC Trades

The Securities and Exchange Board of India (SEBI) on 24 July held that trades executed by Madhav Stock Vision Private Limited (MSVPL) ahead of Life Insurance Corporation of India (LIC) orders using unpublished information amounted to front running, and imposed a consolidated penalty of Rs. 30 lakh on the company and five connected individuals. SEBI Whole Time Member Amarjeet Singh passed the order and directed the noticees to disgorge Rs. 2.51 crore along with interest, while restraining them...

SEBI Debars Former Axis Mutual Fund Dealer, 15 Others In Front-Running Case; Orders ₹30.55 Crore Disgorgement

The Securities and Exchange Board of India (SEBI) has restrained former Axis Mutual Fund Chief Dealer Viresh Joshi and 15 other individuals and entities from the securities market after finding them guilty of orchestrating a front-running scheme involving the mutual fund's trades. Holding that the scheme "directly compromised market integrity and distorted the price discovery mechanism for ordinary investors," the regulator imposed penalties totalling ₹7.40 crore and directed disgorgement of...

SEBI Simplifies Transmission Of Securities, Introduces Fast-Track Process For Low-Value Claims

The Securities and Exchange Board of India (SEBI) on Thursday introduced a simplified and standardised framework for the transmission of securities, bringing in a faster process for low-value claims, easing documentation requirements and prescribing uniform procedures for processing transmission requests.The revised framework will apply to listed companies, Registrars and Transfer Agents (RTAs), depositories, depository participants and Asset Management Companies (AMCs). It is aimed at making...

SEBI Imposes ₹4 Lakh Penalty On Pace Stock Broking For Compliance Lapses In Axis MF Front Running Probe

The Securities and Exchange Board of India (SEBI) has imposed a ₹4 lakh penalty on a stock broker for failing to furnish trader-wise mapped IP address details in the prescribed manner and for furnishing incorrect information during an investigation into the alleged front-running of trades of Axis Mutual Fund.SEBI Adjudicating Officer (AO) Jai Sebastain passed the order.The regulator initiated adjudication proceedings against Pace Stock, a registered stock broker, following an investigation into...

SEBI Revises Certification Requirements For Distribution Of Specialized Investment Funds

The Securities and Exchange Board of India (SEBI) on Tuesday revised the certification requirements for entities engaged in the sale and distribution of Specialized Investment Funds (SIFs). Under the revised framework, persons engaged in the sale and distribution of SIF products must hold a valid "NISM Series-V-D – Mutual Fund – Specialized Investment Fund Distributors Certification." The certification also authorises them to distribute both Mutual Fund and SIF products without requiring a...

SEBI Fines CDSL ₹1 Crore Over 2022 LockBit Ransomware Attack

The Securities and Exchange Board of India (SEBI) has imposed a Rs. 1 crore penalty on securities depository Central Depository Services (India) Limited (CDSL) after finding that its failure to implement prescribed cybersecurity measures enabled the 2022 LockBit ransomware attack, disrupting settlement activities and affecting investors. SEBI Adjudicating Officer Jai Sebastian, in an order dated July 20, held that CDSL failed to implement several mandatory cybersecurity controls, resulting in...

SEBI Simplifies Mutual Fund Transmission Process For Legal Heirs, Nominees

The Securities and Exchange Board of India (SEBI) has announced investor-friendly measures to simplify the process of transferring mutual fund investments to legal heirs or nominees after the death of a unit holder.In a press release issued on Friday, SEBI said it had advised the Association of Mutual Funds in India (AMFI) to further simplify the standards governing the procedure for claiming units or proceeds upon the death of a unit holder. Following SEBI's advice, AMFI amended the...

SEBI Cautions Listed Companies, Regulated Entities Against 'Boss Scam'

The Securities and Exchange Board of India (SEBI) on Friday cautioned regulated entities and listed companies against an emerging cyber fraud known as the "Boss Scam" or CEO/Managing Director impersonation fraud, after the Indian Cyber Crime Coordination Centre (I4C) alerted the market regulator to the trend. SEBI said the fraud involves cybercriminals impersonating Chief Executive Officers, Managing Directors and other senior officials through email, WhatsApp, Microsoft Teams and other social...

SEBI Extends SWP, STP Standing Instruction Facility To Mutual Fund Units Held In Demat Form

The Securities and Exchange Board of India (SEBI) has extended the facility of creating standing instructions for Systematic Withdrawal Plans (SWPs) and Systematic Transfer Plans (STPs) to investors holding mutual fund units in demat form, a move aimed at facilitating ease of doing business. The circular, issued on Friday, requires depositories to implement the framework in two phases and designates them as the nodal facilitators for its rollout. At present, mutual fund investors can create...

Nippon India AIF Entities Settle SEBI Case Over Alleged AIF Regulations Violations

Nippon India Event Opportunities Trust, Nippon Life India AIF Management Limited and several of its key managerial personnel have settled a case with the Securities and Exchange Board of India (SEBI) by paying ₹14.66 lakh over alleged violations relating to the manager's and sponsor's continuing investment in an alternative investment fund. The settlement order was passed by SEBI Whole Time Members Kamlesh C. Varshney and K.V.R. Murty.The proceedings arose from SEBI's examination of the...

SEBI Relaxes Investment Restrictions For Spouses' ESOPs Under Amended Employees' Service Regulations

The Securities and Exchange Board of India (SEBI) on 7 July amended its Employees' Service Regulations to exempt employee stock options (ESOPs) received by the spouses of SEBI employees through their employment from the investment restrictions applicable to employees' family members. Under the amended regulations, such ESOPs will not be treated as restricted investments held by family members of SEBI employees. The regulations also clarify that inadvertent violations by a spouse or dependent...

SEBI Prescribes Conditions and Limits For Intraday Borrowings By Mutual Funds

The Securities and Exchange Board of India (SEBI) on Friday issued a revised framework governing the intraday borrowing facility availed by mutual funds. The circular will come into effect from September 1, 2026. The circular follows SEBI's amendment to the SEBI (Mutual Funds) Regulations, 2026 permitting intraday borrowings by mutual funds. It supersedes the guidelines on borrowings of mutual funds contained in the SEBI Master Circular for Mutual Funds dated March 20, 2026 and the SEBI Circular...