Latest news with #marketregulation
Reuters
3 days ago
- Business
- Reuters
India regulator bars former IIFL executive from markets over alleged stock manipulation
June 17 (Reuters) - India's markets regulator on Tuesday barred former director at IIFL Securities Sanjiv Bhasin from the securities markets for allegedly making misleading stock recommendations on television and social media platforms. The Securities and Exchange Board of India (SEBI) in an interim order alleged that Bhasin bought shares and then promoted those stocks on business news channels like Zee Business and ET Now, as well as on IIFL's Telegram channel. After his public recommendations drove up the stock prices, he is said to have sold his holdings for profit, according to SEBI. A message sent to Bhasin, whose contract with IIFL ended in June 2024, seeking comment on the SEBI order was not immediately answered. IIFL Securities also did not immediately respond to Reuters' request for comment. SEBI said that it had investigated Bhasin's stock recommendations and trading activity from January 01, 2020, to June 12, 2024. The regulator also ordered to impound 113.7 million rupees($1.3 million) of "unlawful" gains from Bhasin and others who facilitated his activities. ($1 = 86.3010 Indian rupees)
Yahoo
13-06-2025
- Business
- Yahoo
Tikehau Capital: Disclosure of Shares Repurchases from 06 June 2025 to 12 June 2025
PARIS, June 13, 2025--(BUSINESS WIRE)--Regulatory News: In accordance with Article 5 of EU Regulation n° 596/2014 (Market Abuse Regulation), detailed information is available on the website of Tikehau Capital (Paris:TKO): Name of the issuer Issuer Identity Code (LEI) Trading Day ISIN Aggregated volume per day (number of shares) Weighted average price per day Market (MIC Code) TIKEHAU CAPITAL 969500BY8TEU16U3SJ94 06/06/2025 FR0013230612 1,016 19.1754 XPAR TIKEHAU CAPITAL 969500BY8TEU16U3SJ94 09/06/2025 FR0013230612 463 19.1254 XPAR TIKEHAU CAPITAL 969500BY8TEU16U3SJ94 10/06/2025 FR0013230612 1,071 19.0114 XPAR TIKEHAU CAPITAL 969500BY8TEU16U3SJ94 11/06/2025 FR0013230612 892 19.0490 XPAR TIKEHAU CAPITAL 969500BY8TEU16U3SJ94 12/06/2025 FR0013230612 1,086 18.8606 XPAR TOTAL 4,528 19.0311 View source version on Contacts Tikehau Capital
Reuters
02-06-2025
- Business
- Reuters
German watchdog finds no abuse in companies' pre-results calls with analysts
FRANKFURT, June 2 (Reuters) - An investigation by Germany's financial watchdog has found no reason to change companies' practice of communicating with analysts before publishing results, following media concerns about the potential disclosure of insider information. Regulators have taken a closer look at so-called pre-close calls after media reports highlighted an apparent connection between high volatility in share prices and the communication with analysts. Germany's BaFin watchdog disclosed at a conference on Monday the findings of a study it began last year. Details will likely be published this week. "We do not currently see any systematic problems with the execution of pre-close calls," Christoph Schell, a BaFin official who studies market surveillance and abuse, said at the conference. Strong price reactions are isolated cases, and there is no need to tighten rules around the calls, he added. Last year, the European Union's securities watchdog warned that companies should not share market-sensitive information with external analysts ahead of their financial statements. The practice of pre-close calls is widespread - not just in Germany. It is typically communication before the publication of financial statements, between a company and analysts who generate research, forecasts and recommendations on the company's shares and bonds. Supporters say the calls contribute to the orderly functioning of markets. Schell said that BaFin found in its study that 63% of companies listed on Germany's DAX index of blue-chips and the MDAX of smaller companies hold pre-close calls. More than 90% of those companies conduct individual chats with analysts, he said. BaFin found that 70% of the market trading around calls it investigated showed no significant market reaction, while only 10% did. "We have investigated these cases and have so far found no evidence of any unauthorized disclosure of insider information," Schell said. He added that companies should nevertheless be as transparent as possible, by announcing the calls on their websites and holding them in a group format rather than individually.
Reuters
26-05-2025
- Business
- Reuters
India regulator gives more power to exchange board on appointing management
MUMBAI, May 26 (Reuters) - India's markets regulator on Monday increased the number of senior positions at exchanges and depositories that will require approval of their governing boards, a move that could bring the nation's top derivatives exchange closer to a long-sought public listing. Right now, governing boards of market institutions are only required to approve managing directors, but that requirement will extend to posts of compliance, chief risk, chief technology and chief information security officers, the Securities and Exchange Board of India (SEBI) said in a circular. The National Stock Exchange of India, the world's largest derivatives exchange, has been unable to secure regulatory approval for its initial public offering and the regulator said in February that the pending regulation on key management appointments was one of the issues delaying the IPO's approval. The regulator also said market infrastructure institutes should hire external agencies to find suitable candidates for the top jobs and their governing bodies decide on cooling off periods if they were to join from a competitor.
Reuters
20-05-2025
- Business
- Reuters
Wall St regulator defends steep staff cuts
May 20 (Reuters) - Wall Street's top regulator remains capable of policing markets despite steep recent cuts to agency staffing, Paul Atkins, the newly installed chairman of the U.S. Securities and Exchange Commission, told Congress on Tuesday. Hundreds of SEC staff since January have taken the Trump administration's early retirement and buyout offers, with key offices losing as many as one of every five employees, according to agency data. The cuts have created unease among career staff and prompted concern the agency's reduced capacity could hinder its ability to prevent fraud and market turmoil. "We miss their expertise but I think we have plenty of expertise there at the Commission," Atkins said, adding that some vacancies would have to be filled but this would allow younger staffers a chance at career advancement. "I think it's good every once in a while to have a house cleaning." Atkins also said savings so far from contracting cuts driven by billionaire Elon Musk's Department of Government Efficiency amounted to $9 million. The agency is currently re-reviewing IT contracts to identify more possible cost savings in cooperation with DOGE.
