Sebi De­bars 1,350 En­ti­ties for Ma­nip­u­la­tions

Stock ex­changes have also sus­pended trad­ing in 200 shares of listed com­pa­nies

The Economic Times - - Commodities Plus -

New Delhi: Putting to use alerts gen­er­ated by its ro­bust sur­veil­lance mech­a­nism, reg­u­la­tor Sebi has de­barred nearly 1,350 en­ti­ties from the mar­kets for mis­us­ing ex­change plat­form to evade taxes and other ma­nip­u­la­tions.

Stock ex­changes have also sus­pended trad­ing in nearly 200 shares of listed com­pa­nies while trade has been re­stricted in more than 150 other stocks as part of their own sur­veil­lance mea­sures. The co­or­di­nated ef­forts of the Se­cu­ri­ties and Ex­change Board of In­dia (Sebi) and stock ex­changes have re­sulted in an ef­fec­tive sur­veil­lance of the se­cu­ri­ties mar­ket, a se­nior of­fi­cial said.

“The reg­u­la­tor’s ef­forts to main­tain mar­ket in­tegrity and to pro­tect the in­ter­ests of in­vestors have re­sulted in greater con­fi­dence and trust of in­vestors in the In­dian mar­ket. This will go a long way in bring­ing even more par­tic­ipa- tion of in­vestors, es­pe­cially re­tail in­vestors,” he added.

Sebi and stock ex­changes con­stantly mon­i­tor and take sur­veil­lance ac­tions based on alerts gen­er­ated by a ro­bust ‘alert gen­er­a­tion sys­tem’ and on the ba­sis of other in­puts re­ceived from var­i­ous sources in­clud­ing in­ves­tiga­tive agen­cies and gov­ern­ment de­part­ments.

“The reg­u­la­tor is in con­stant touch with stock ex­changes and in full co­or­di­na­tion they have car­ried out var­i­ous ac­tions such as de­bar­ment of en­ti­ties, sus­pen­sion of scrips, halt­ing pay­out of funds, re­duc­tion in cir­cuit fil­ters, etc, as part of their sur­veil­lance mea­sures to pro­tect the in­tegrity of the mar­ket,” the of­fi­cial added.

Sebi’s In­te­grated Sur­veil­lance Depart­ment re­ceives in­for­ma­tion from a num­ber of sources such as me­dia scan­ning, IB re­ports, SCORES (Sebi’s on­line com­plaint re­dress­sal sys­tem), Sus­pi­cious Trans­ac­tion Re­port and ex­changes. This is in ad­di­tion to Sebi’s In­te­grated Mar­ket Sur­veil­lance Sys­tem and Data Ware­hous­ing and Busi­ness In­tel­li­gence Sys­tem sys­tems, which form the core of the alert gen­er­a­tion process. More than 100 alerts are gen­er­ated on an av­er­age ev­ery day, which are pro­cessed fur­ther and acted upon.


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