Motilal Oswal Resolves Front-Running Allegations
Motilal Oswal Financial Services settled charges of alleged front-running in trades with a hefty settlement of Rs 34.85 lakh. The practice involves trading based on insider information before it's public. The settlement was reached without any admission of guilt, as stated by SEBI's Quasi Judicial Authority.
- Country:
- India
Motilal Oswal Financial Services has settled allegations related to front-running, deemed an illegal trading practice, by agreeing to pay Rs 34.85 lakh.
Front-running involves trading based on information not yet available to clients, putting the financial institution in hot water with regulatory authorities.
The Securities and Exchange Board of India's (SEBI) Quasi Judicial Authority approved the settlement, which Motilal Oswal opted for without admitting any malpractice.
(With inputs from agencies.)
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