NEW DELHI/MUMBAI: Markets regulator the Securities and Exchange Board of India ( Sebi ) has barred leading stock exchange NSE from accessing the securities market for a period of six months in the much-awaited order on the co-location case The exchange will not able to come out with its IPO during this period.“NSE has committed a fraudulent and unfair trade practice as contemplated under the SEBI (PFUTP) Regulations. "The exchange has also been directed to audit its systems at frequent intervals. The integrity of capital markets is important,” said Shriram Subramanian, founder of InGovern, a proxy advisory firm.Subramanian said the order meant that NSE will not be able to invest in securities market or come up with an IPO over the next six months.“There would have been digital footprints. This was long expected. The only thing is that Sebi might have figured out that it happened with the knowledge of former MDs,” he added.Sebi in its order on Tuesday also asked NSE to initiate an enquiry under its employees regulations against Mahesh Soparkar and submit a report to the regulator within six months.

Source: Economic Times April 30, 2019 14:33 UTC