NSE, ex-MD settle case with Sebi for Rs 643 crore – Times of India
MUMBAI: NSE and nine of its former senior executives, including earlier MD Vikram Limaye, have settled a case with Sebi over allegations that brokers bypassed a trading access point to enable faster trades for Rs 643 crore. This is the largest settlement order in Sebi's 36-year history. In addition to the settlement amount, eight officials have been asked to perform at least 14 days of pro bono community service.Sebi has been investigating NSE's trading access point (TAP) architecture and network connectivity for nearly a decade. The probe focused on whether trading members bypassed TAP, the handling of a 2013 complaint, and whether NSE's lapses led to securities law violations. According to the order, NSE, on behalf of the applicants, remitted the settlement amount on Sept 25, 2024.The fo...