Social News XYZ     

SEBI raids market experts’ cronies for front-running

SEBI raids market experts' cronies for front-running

Mumbai, Jan 20 (SocialNews.XYZ) The markets regulator Securities & Exchange Board of India (SEBI) has carried out nationwide raids targeting front-running carried out by market experts appearing on a business news television channel.

The raids comprising search and seizures were carried out at the homes and offices of around half a dozen entities reportedly engaged in front-running based on illegally obtained market information for profits.


The SEBI sleuths swooped at multiple locations in Pune, Kolkata, NOIDA and Jaipur after extensive internal alert systems and external surveillance data pointed at front-running by some persons linked with a few 'market experts' airing their expertise on news channels.

According to the modus operandi, just prior to the market experts going on air to recommend certain stocks, the targeted entities would take positions on those stocks, violating the SEBI's regulations pertaining to fraudulent and unfair trade practices.

The SEBI teams have affected seizures of mobile phones, computers, laptops, tablets, drives and other physical records of these raided entities purportedly engaged in using the advance information for gains, and further investigations are underway.

Despite repeated attempts SEBI top officials were not available for their comments in the matter.

Source: IANS

Facebook Comments
SEBI raids market experts' cronies for front-running

About Gopi

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.

He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.

When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.

He can be reached at

%d bloggers like this: