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Sebi imposes fines NSE, Ramakrishna, Narain in co-location case

Sebi imposed a penalty of Rs 1 crore on the National Stock Exchange (NSE) for failing to ensure a level-playing field for trading members subscribing to its tick-by-tick (TBT) data feed system.

Topics
SEBI | NSE co-location case

Press Trust of India  |  New Delhi 

Sebi

In the high profile co-location matter, regulator on Wednesday imposed a penalty of Rs 1 crore on the National Stock Exchange (NSE) for failing to ensure a level-playing field for trading members subscribing to its tick-by-tick (TBT) data feed system.

In addition, the regulator levied a fine of Rs 25 lakh each on NSE's former managing directors and chief executive officers Chitra Ramakrishna and Ravi Narain, according to a order.

said that NSE flouted the principles underlying the conduct of business of a stock exchange, pertaining to fair and equitable access to information.

The NSE has failed to comply with the provisions of SECC Regulations in letter and spirit and Ramakrishna and Narain are vicariously liable for the acts of omissions/ commissions committed by the exchange during the investigation period, Sebi said in the order.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, February 10 2021. 20:56 IST
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