https://www.taxtmi.com/caselaws?id=293060 A broker may be liable for fraudulent and unfair trade practices where repeated small trades in an illiquid scrip, including self trades and fictitious trades, indicate a structured attempt to support and inflate price. The analysis states that client instructions do not excuse conduct where the trade pattern itself is suspicious and the broker fails to act with due care, skill and diligence expected of a registered intermediary. On that basis, violation of the FUTP Regulations and the broker code of conduct was upheld, while the penalty for the FUTP breach was reduced. The substantive findings of market manipulation and lack of diligence were sustained. en-us Mon, 23 Apr 2012 00:00:00 +0530 Wed, 20 Jan 2021 17:17:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293060 A broker may be liable for fraudulent and unfair trade practices where repeated small trades in an illiquid scrip, including self trades and fictitious trades, indicate a structured attempt to support and inflate price. The analysis states that client instructions do not excuse conduct where the trade pattern itself is suspicious and the broker fails to act with due care, skill and diligence expected of a registered intermediary. On that basis, violation of the FUTP Regulations and the broker code of conduct was upheld, while the penalty for the FUTP breach was reduced. The substantive findings of market manipulation and lack of diligence were sustained. Case-Laws SEBI Mon, 23 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293060