https://www.taxtmi.com/caselaws?id=196686 Liability for alleged market manipulation through reversal or circular trades requires cogent evidence of nexus, connection, or connivance with the counterparties, assessed on the full trading pattern rather than isolated matching entries. Where the material shows only a few matched trades over a limited period and does not establish a repeated fraudulent scheme, the allegation of fraudulent and unfair trade practice fails. A sub-broker's code of conduct breach based on lack of integrity, fairness, or due diligence cannot stand when it rests on the same unproven manipulation theory; reasonable precautions and client-driven execution may defeat a hindsight-based inference of misconduct. en-us Fri, 18 May 2012 00:00:00 +0530 Tue, 12 Dec 2017 11:38:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196686 Liability for alleged market manipulation through reversal or circular trades requires cogent evidence of nexus, connection, or connivance with the counterparties, assessed on the full trading pattern rather than isolated matching entries. Where the material shows only a few matched trades over a limited period and does not establish a repeated fraudulent scheme, the allegation of fraudulent and unfair trade practice fails. A sub-broker's code of conduct breach based on lack of integrity, fairness, or due diligence cannot stand when it rests on the same unproven manipulation theory; reasonable precautions and client-driven execution may defeat a hindsight-based inference of misconduct. Case-Laws Companies Law Fri, 18 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196686