New Delhi, Apr 15 (PTI) Antique Stock Broking on Tuesday settled with Sebi in a case pertaining to the suspected front-running of trades by paying Rs 29.25 lakh towards settlement charges.

Front-running refers to an illegal practice in the stock market where an entity trades based on advanced information from a broker or analyst before the information has been made available to its clients.

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The order came after the applicant (Antique Stock Broking) filed the settlement application on November 26, 2024, proposing to settle the "pending proceeding...without admitting or denying the findings of fact and conclusions of law".

As per the order, the markets watchdog will not initiate enforcement proceedings against Antique Stock Broking for the violations. However, Sebi retained the right to take further action if any misrepresentation is discovered or if they breach any terms of the settlement.

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The Securities and Exchange Board of India (Sebi) conducted an investigation into the trading activities of MBM Financial Services which was suspected to have front run the trades of Alpna Enterprises (Big Client), during December 01, 2021 to June 30, 2022.

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