Fraud, Manipulation and Insider Trading in the Indian Securities Markets

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Description
The concept of securities regulations covers a field straddled between the fields of finance and law. This book covers an important aspect of securities regulations fraud, manipulation and insider trading. While both manipulation and insider trading prohibition - fall under the broad umbrella of fraud, in India the law on insider trading has somewhat diverged on its own course. Certain case law, as we will see, have brought it back within the fold of fraud.
The law on frauds in the securities markets has become highly relevant to people outside the world of legal practitioners. Whether, you are an investment banker, trader, analyst, deal maker, financial consultant, investment manager, chartered accountant, company secretary or a finance officer, besides of course lawyers and in-house law officers, this book should likely help you. Though aimed at people who inhabit the world of finance in some capacity, this book is also aimed at non-finance corporate persons. This book should be useful for introducing prophylactics and corporate good governance by senior management in their companies to reduce the possibility of fraud, manipulation and insider trading as many people have to face the consequences of actions of their juniors. Since the origin of the book was my class notes at the Indian Institute of Management, Ahmedabad, I would recommend this book to MBA faculty and students, in addition to law faculty and students interested in this fast-evolving and interesting area of the law. While the area does get complex and technical at times, I have attempted to keep the language as simple as possible by avoiding legal jargon and Latin phrases.
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Table of Contents
Chapter 1 Background to Securities Frauds
Chapter 2 Common Law Fraud..
Chapter 3 Statutory Fraud Under SEBI's Anti-fraud Regulations and the Companies Act, 2013
Chapter 4 Mis-selling and Unsuitability
Chapter 5 Manipulation of Securities
Chapter 6 Primary Market Regulations on Fraud and Misstatements
Chapter 7 Insider Trading
Chapter 8 Powers of SEBI, Enforcement and Remedies
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Author Details
Sandeep Parekh is the Managing Partner of Finsec Law Advisors, a financial sector law firm based in Mumbai. He worked as an Executive Director at the Securities and Exchange Board of India (SEBI), India's securities regulator, where he headed the Legal Affairs and Enforcement departments and has been a faculty member at the Indian Institute of Management, Ahmedabad. He has worked for law firms in Delhi, Mumbai and Washington DC. Sandeep focuses on securities regulations, investment regulations, private equity, corporate governance and financial regulations.
Sandeep has obtained an LL M (Securities and Financial Regulations) degree from the Georgetown University and an LL B degree from the Delhi University. He is admitted to practice law in New York, is a member of the US Supreme Court bar, is a member of Mensa and Triple Nine Society. He has been a World Economic Forum 'Young Global Leader'. Sandeep has published op-eds in the Financial Times, Economic Times and leading Indian newspapers and has been quoted in the Wall Street Journal (WSJ), the Economist, Bloomberg and CNBC. He has spoken at the World Economic Forum's Annual Meeting at Davos. He has an active blog called Initial Private Opinion.
Sandeep is an independent director on the board of HDFC Bank, India's largest private sector bank. Sandeep has been a member of the Cabinet Secretariat task force for measuring performance in ministries and departments of the Government of India. He sits on the Advisory Committee of School for Regulatory Studies & Supervision (SRSS) of National Institute of Securities Market (NISM). He was the Chairman of SEBI's Proxy Advisory working group and was a member of SEBI's Mutual Fund Advisory Committee. He is also a member of CII's National Council on Financial Sector and FICCI/BCCI/IMC Committee on Capital Markets. He has been recognised for exceptional standing in law by International publications like AsiaLaw, IFLR1000, Chambers and Partners, IBLJ and Legal500.