SUBSCRIBE NEWSLETTER
  • Change Language
  • English
  • Hindi
  • Marathi
  • Gujarati
  • Punjabi
  • Tamil
  • Telugu
  • Bengali
  • MF News SEBI fines a Sanctum Wealth employee and his family for front running

    SEBI fines a Sanctum Wealth employee and his family for front running

    The alleged employee was working as an equity dealer for Sanctum Wealth’s PMS arm.
    Nishant Patnaik Jan 31, 2024

    Listen to this article

    SEBI has found instances of front running by an employee of Sanctum Wealth. As a result, the market regulator has imposed fine of Rs.5 lakh on the prime accused for front running and restricted him from accessing securities markets for 3 years.

    The accused Kishan Vishram Nanda worked with Sanctum Wealth’s PMS arm as an equity dealer. He floated an HUF by including this family members to carry out front running.

    SEBI has also banned other accused from accessing securities market for one year and asked them to disgorge a sum of Rs.34.84 lakh along with simple interest of 12% applicable from Oct 16, 2020 within 45 days.

    The market regulator has found that the accused and his family members made Rs.34.84 lakh from front running. 

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

    Click to clap
    Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.
    0 Comment
    Be the first to comment.
    Login or Sign up to post comments.
    More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

    Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.
    Cafemutual is an independent media platform and focuses on providing knowledge and information for the benefit of finance professionals. We do not promote any particular brand or asset category.