SEBI revenue from insider trading penalties soars

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    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.

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