SEBI raids Market Experts for Front Running:

SEBI raids Market Experts for Front Running The Securities & Exchange Board of India (SEBI), the market regulator, has conducted nationwide raids to target front-running by market experts who appear on a business news television channel. The raids, which included search warrants and asset seizures, were conducted at the residences and workplaces of about six entities that were allegedly engaged in front-running based on fraudulently obtained market information. The SEBI sleuths raided multiple locations in Pune, Kolkata, NOIDA, and Jaipur after thorough internal alert systems and external surveillance data pointed at front-running by some people associated with a few "market experts" who were airing their knowledge on news channels. According to the modus operandi, the targeted entities would take positions on those stocks just before the market experts went on air to recommend particular stocks, in violation of the SEBI's rules regarding dishonest and unfair trade practises. Further investigations are underway. The SEBI teams have confiscated mobile phones, computers, laptops, tablets, drives, and other physical records from these raided entities that were allegedly using the advance information for financial gain.