Sebi fines two brokers Rs 40 lakh in Axis Mutual Fund front-running case
The Securities and Exchange Board of India (Sebi) has imposed a total penalty of Rs 40 lakh on Woodstock Broking and Marfatia Stock Broking for regulatory violations. Both firms allowed unauthorized access to their trading terminals, enabling front-running trades by Prijesh Kurani from Dubai. The investigation found insider information was shared about Axis Mutual Fund's trades. Sebi stressed the need for strict controls over terminal access and trading infrastructure.
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