New rules by SEBI: Crackdown on fraud and unfair trade practices in the securities market. Watch out for "mule accounts"! Effective from the Official Gazette.

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....The Securities and Exchange Board of India has issued the Notification for the (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Amendment) Regulations, 2024. The regulations empower u/s 30 of the SEBI Act, 1992, amending the 2003 Regulations. The key amendments include defining "mule account" and clarifying acts like diversion of assets and transactions through mule accounts as manipulative practices. The Amendment Regulations, 2024 come into force upon publication in the Official Gazette. The Notification was issued on June 27, 2024, by the Executive Director.....