https://www.taxtmi.com/caselaws?id=284620 Synchronized circular trading involving matched buy and sell orders, rapid order matching, rotation of shares within a closed group, and no meaningful change in beneficial ownership can create artificial market volume and a false appearance of trading activity, contrary to PFUTP requirements and stock-broker conduct standards. Supplying the materials relied on in a show-cause notice is sufficient absent demonstrated prejudice from withholding the complete investigation report. Delay in concluding proceedings, although deplorable, does not itself negate established market misconduct. A broker's liability may arise from active participation in a circular trading pattern regardless of overall turnover or a claimed broker-client relationship. en-us Tue, 22 Oct 2013 00:00:00 +0530 Fri, 29 Nov 2019 17:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284620 Synchronized circular trading involving matched buy and sell orders, rapid order matching, rotation of shares within a closed group, and no meaningful change in beneficial ownership can create artificial market volume and a false appearance of trading activity, contrary to PFUTP requirements and stock-broker conduct standards. Supplying the materials relied on in a show-cause notice is sufficient absent demonstrated prejudice from withholding the complete investigation report. Delay in concluding proceedings, although deplorable, does not itself negate established market misconduct. A broker's liability may arise from active participation in a circular trading pattern regardless of overall turnover or a claimed broker-client relationship. Case-Laws SEBI Tue, 22 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284620