Whether trader indulging in front running can be held guilty of violating regulations 3 and 4 of FUTP regulations?

SECURITIES APPELLATE TRIBUNAL, MUMBAI Sujit Karkera Versus Adjudicating Officer, Securities and Exchange Board of India Appeal No. 167 of 2012 December 17, 2012 JUDGMENT S.S.N. Moorthy, Member – The appellants are traders in securities. The present appeal is directed against an order passed by the adjudicating officer of the Securities and Exchange Board of India (for short the Board) by which a penalty of Rs. 60,73,316/-, Rs. 54,19,212/- and Rs. 4,66,108/- respectively has been imposed on the appellants. The above penalties were imposed under section 15HA of the Securit...