Sebi moots institutional mechanism for stock brokers to curb market abuse ...Middle East

Markets regulator Sebi on Tuesday proposed an institutional mechanism that will require stock brokers to put in place systems for detection and prevention of market abuse. Currently, there are no specific regulatory provisions that cast responsibility on brokers to have a system to prevent market abuse. In a consultation paper, Sebi has proposed a regulatory framework which will require broking firms as well as their senior management to be accountable for detection and prevention of fraud or market abuse, by setting up robust surveillance and control systems. In addition, the regulator has suggested that brokers should have appropriate escalation and reporting mechanisms. Sebi has also list

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