https://www.taxtmi.com/caselaws?id=292776 Permitting a client to execute synchronized, circular and self trades, together with allied compliance lapses, was treated as conduct amounting to violation of the SEBI Act and the PFUTP and Stock Brokers Regulations because the volume and pattern of trades were such that the broker could not have failed to notice their manipulative nature. The Tribunal treated this as more than a mere failure of due diligence and as aiding fraudulent and manipulative trading. While the finding of violation was upheld, the penalty was reconsidered on the basis that the broker had not engaged in proprietary trading and that comparable matters had attracted a less severe regulatory response; the three-month suspension was set aside and replaced with a six-month bar on accepting fresh clients. en-us Wed, 06 Nov 2019 00:00:00 +0530 Fri, 08 Jan 2021 01:59:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292776 Permitting a client to execute synchronized, circular and self trades, together with allied compliance lapses, was treated as conduct amounting to violation of the SEBI Act and the PFUTP and Stock Brokers Regulations because the volume and pattern of trades were such that the broker could not have failed to notice their manipulative nature. The Tribunal treated this as more than a mere failure of due diligence and as aiding fraudulent and manipulative trading. While the finding of violation was upheld, the penalty was reconsidered on the basis that the broker had not engaged in proprietary trading and that comparable matters had attracted a less severe regulatory response; the three-month suspension was set aside and replaced with a six-month bar on accepting fresh clients. Case-Laws SEBI Wed, 06 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292776