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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Editor's note: On 13 January, a first-of-its-kind event took place. Markets regulator Securities and Exchange Board of India took action against a TV anchor for allegedly indulging in fraudulent trades based on advance information. Hemant Ghai, host of multiple shows on Hindi business channel CNBC Awaaz, was barred from the securities market and directed to stop giving investment advice or making stock recommendations till further notice. Ghai is accused of “front running”, i.e., trading in stocks based on insider knowledge of a future transaction that will affect their price. His mother and wife are alleged to have synchronized a large number of “buy-today-sell-tomorrow” trades in tandem with the recommendations made on the “Stock 20-20” morning show that he co-hosted. The modus operandi of the Ghais went something like this—Ghai’s wife and mother would buy a substantial number of shares of some companies. The bulk of these companies were then recommended as “buys” on the show the next morning. Once the markets opened, they would then sell these shares. The heightened level of interest in these stocks generated by the recommendations led to …
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
While the regulator’s interim order alleges massive irregularities, the long arc of unfinished probes, hearings and appeals makes closure distant.
