Fund houses oppose SEBI for insider trading charges
Dec 16 2019
News Category: Industry Update
According to media reports, mutual fund companies have opposed the insider trading charges raised by the Securities and Exchange Board of India (SEBI) for trading in Manappuram Finance, said sources close to the matter. The market regulator had issued show cause notice to as many as nine fund houses, including Aditya Birla Sun Life Mutual Fund and SBI Mutual Fund, based on Ambit Capital brokerage report which possessed unpublished price sensitive information (UPSI). These fund houses are said to have used the report for taking trading calls on Manappuram Finance.