SEBI adjudication order imposes ₹5 lakh penalty on Fastino Dealers Private Limited for executing non-genuine trades in BSE's illiquid stock options segment.
The company executed 4 reversal trades in one contract during April 2014-September 2015, generating artificial volume of 100,000 units representing 10.11% of contract volume.
Violations established under Regulations 3(a),(b),(c),(d) and 4(1),4(2)(a) of SEBI PFUTP Regulations for creating false/misleading appearance of trading.
Order issued ex-parte after multiple failed service attempts and no response from the noticee to show cause notices and hearing opportunities.