SEBI revenue from insider trading penalties soars

SEBI revenue from insider trading penalties soars
Chennai, Aug 25 (IANS) India's securities market regulator last year saw its revenues from penalties on insider trading going up by a whopping 1,010.9 percent to Rs.20.40 crore.

According to Securities and Exchange Board of India (SEBI), it imposed a total penalty of Rs.20.40 crore last fiscal in adjudication proceedings for violations of SEBI (Prohibition of Insider Trading) Regulations, 1992.

During 2012-13, the market regulator imposed a total penalty of Rs.1.84 crore under the same head.

According to SEBI's latest annual report, the penalty under the anti-insider trading regulations imposed last fiscal includes penalty for disclosure related violations.

The market regulator uses a mix of warnings and letters of deficiency and harder measures such as disgorgement and payment of money under adjudication or consent proceedings to prevent insider trading.

Read more about: sebi, gold
Story first published: Monday, August 25, 2014, 15:42 [IST]
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