https://www.taxtmi.com/caselaws?id=277511 Screen-based futures and options trading is not treated as fraudulent or manipulative merely because trades are synchronized, quickly reversed, or produce offsetting profits and losses. The commentary explains that reverse F&O transactions may have legitimate commercial or tax-planning purposes, and that manipulation requires material showing a deceptive device or misuse of the exchange mechanism. Broker liability for aiding and abetting or breach of code of conduct depends on evidence of knowledge of the counter-party arrangement or participation in the alleged scheme; a mere broker-client relationship, especially in anonymous and internet-based trading, is insufficient without proof of collusion or lack of due diligence. en-us Tue, 26 Oct 2010 00:00:00 +0530 Thu, 06 Dec 2018 11:32:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277511 Screen-based futures and options trading is not treated as fraudulent or manipulative merely because trades are synchronized, quickly reversed, or produce offsetting profits and losses. The commentary explains that reverse F&O transactions may have legitimate commercial or tax-planning purposes, and that manipulation requires material showing a deceptive device or misuse of the exchange mechanism. Broker liability for aiding and abetting or breach of code of conduct depends on evidence of knowledge of the counter-party arrangement or participation in the alleged scheme; a mere broker-client relationship, especially in anonymous and internet-based trading, is insufficient without proof of collusion or lack of due diligence. Case-Laws Companies Law Tue, 26 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277511