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TMI BlogProhibition of manipulative, fraudulent and unfair trade practicesX X X X Extracts X X X X X X X X Extracts X X X X ..... curities are listed or any concealment of such act or any device, scheme or artifice to manipulate the books of accounts or financial statement of such a company that would directly or indirectly manipulate the price of securities of that company, or (ii) transactions through mule accounts for indulging in manipulative, fraudulent and unfair trade practice shall be and shall always be deemed to have been included in sub-regulation (1). ] (2) Dealing in securities shall be deemed to be a 6 [ manipulative, ] fraudulent or an unfair trade practice if it involves 7 [ any of the following ] :- (a) 8 [ knowingly ] indulging in an act which creates false or misleading appearance of trading in the securities market; (b) dealing in a security not in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g of stolen, counterfeit or fraudulently issued securities whether in physical or dematerialized form: Provided that if:- (i) the person selling, dealing in or pledging stolen, counterfeit or fraudulently issued securities was a holder in due course; or (ii) the stolen, counterfeit or fraudulently issued securities were previously traded on the market through a bonafide transaction, (iii) such selling, dealing or pledging of stolen, counterfeit or fraudulently issued securities shall not be considered as a manipulative, fraudulent, or unfair trade practice; ] (i) 15 [ **** ] (j) 16 [ **** ] 30 [ (k) disseminating information or advice through any media, whether physical or digital, which the disseminator knows to be false or misleading in a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of securities or services relating to securities market by any person, directly or indirectly, by- (i) knowingly making a false or misleading statement, or (ii) knowingly concealing or omitting material facts, or (iii) knowingly concealing the associated risk, or (iv) not taking reasonable care to ensure suitability of the securities or service to the buyer. ] 2 [(t) illegal mobilization of funds by sponsoring or causing to be sponsored or carrying on or causing to be carried on any collective investment scheme by any person.] 3 [ 27 [ Expiation-1 ] . For the purposes of this sub-regulation, for the removal of doubts, it is clarified that the acts or omissions listed in this sub-regulation are not exhaustive and that an act or omission is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 31-12-2018 w.e.f. 01-02-2019 9. Substituted vide Notification No. SEBI/LAD-NRO/GN/2018/56 dated 31-12-2018 w.e.f. 01-02-2019 before it was read as, (c) advancing or agreeing to advance any money to any person thereby inducing any other person to offer to buy any security in any issue only with the intention of securing the minimum subscription to such issue; 10. Substituted vide Notification No. SEBI/LAD-NRO/GN/2018/56 dated 31-12-2018 w.e.f. 01-02-2019 before it was read as, (d) paying, offering or agreeing to pay or offer, directly or indirectly, to any person any money or money s worth for inducing such person for dealing in any security with the object of inflating, depressing, maintaining or causing fluctuation in the price of such se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -02-2019 before it was read as, (l) an intermediary reporting trading transactions to his clients entered into on their behalf in an inflated manner in order to increase his commission and brokerage; 19. Substituted vide Notification No. SEBI/LAD-NRO/GN/2018/56 dated 31-12-2018 w.e.f. 01-02-2019 before it was read as, an intermediary not disclosing to his client transactions entered into on his behalf including taking an option position; 20. Substituted vide Notification No. SEBI/LAD-NRO/GN/2018/56 dated 31-12-2018 w.e.f. 01-02-2019 before it was read as, intermediaries in order to increase commission to 21. Substituted vide Notification No. SEBI/LAD-NRO/GN/2018/56 dated 31-12-2018 w.e.f. 01-02-2019 before it was read as, encouraging the cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Inserted vide Notification No. SEBI/LAD-NRO/GN/2018/56 dated 31-12-2018 w.e.f. 01-02-2019 29. Inserted vide Notification No. SEBI/LAD-NRO/GN/2020/36 dated 19-10-2020 30. Substituted vide Notification No. SEBI/LAD-NRO/GN/2022/71 dated 25-01-2022 before it was read as, 17 [ (k) disseminating information or advice through any media, whether physical or digital, which the disseminator knows to be false or misleading and which is designed or likely to influence the decision of investors dealing in securities; ] 31. Substituted vide Notification No. SEBI/LAD-NRO/GN/2024/187 dated 27-06-2024 before it was read as, 29 [ Explanation. For the removal of doubts, it is clarified that any act of diversion, misutilisation or siphoning off of assets or ea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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