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News From Press Front-running of trades HDFC MF refunds investors for losses

Front-running of trades HDFC MF refunds investors for losses

Source: The Indian Express Mar 21, 2016

Following the advisory by the Securities and Exchange Board of India (Sebi), HDFC Mutual Fund has started refunding the losses incurred by the HDFC mutual fund unit holders on account of the front-running of trades by certain individuals.

In mails sent out to concerned investors on Saturday, HDFC Asset Management Company said, “Sebi in its investigation identified certain instances of front-running by a former equities dealer of HDFC AMC with certain set of front runners. HDFC AMC has since terminated the services of the said equities dealer. As per the consent terms filed by HDFC AMC with Sebi in the matter and as now advised by

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