Sebi suspends registration of two brokerage firms in NSEL paired contracts case
时间:2024-06-26 04:52:17 阅读(143)
Capital markets regulator Sebi on Monday suspended the registration of two brokerage houses — Nortel Vincom and Northeast Commodities — for their involvement in illegal paired contracts on the now defunct National Spot Exchange Ltd (NSEL).By providing access for taking exposure to paired contracts, the broking firms exposed their clients to the risk involved in trading in a product that did not have regulatory approval, Sebi said in two separate orders.
Further, the regulator said that trading activities of the brokers in paired contracts for their clients on the NSEL platform have “serious ingredients jeopardising the reputation, belief in competence, fairness, honesty, integrity and character of the noticees in the securities market”.
In September 2009, NSEL introduced the concept of paired contracts for trading, which allowed buying and selling of the same commodity through two different contracts at two different prices on the exchange platform.The scheme of paired contracts traded on NSEL had caused a huge loss to investors to the extent of Rs 5,500 crore, as per the orders.
上一篇:India formally requests Hafiz Saeed’s extradition from Pakistan amidst ongoing tensions, say sources
猜你喜欢
- MCX shares tumble nearly 8 per cent after CTO resigns
- India bond yields to debut 2024 with marginal uptick
- Mazagon Dock, JK Lakshmi Cement among 149 BSE stocks to hit 52-week highs, 19 fall to 52-week lows
- India-focused VC & PE funds raise record $14
- Markets undergoing correction for past month, select heavyweights outperform; US markets to drive global cues
- India second-best performing major market this year
- Mcap of 8 of top-10 most valued firms jump Rs 1
- Buy IndusInd Bank, Maruti Suzuki, other stocks to pocket gains; Nifty support at 18300, likely to hit 18600
- Building materials- cement; Strong demand yields good results