Four Indians and a firm paid $210,000 to settle SEBI front-running charges using insider data from a broker’s relative.

Four Indian individuals and a firm have paid ₹1.76 crore to settle front-running allegations with India’s SEBI, avoiding admission of guilt. Between January 2022 and December 2023, they allegedly used non-public trade data from Societe Generale, shared by a broker’s relative, to profit ahead of large client trades. SEBI found 14 and 26 front-running instances in two accounts, generating ₹2.85 lakh and ₹11.95 lakh in gains. The entities accepted a six-month market ban and paid penalties and disgorgement. The case, resolved on October 6, 2025, follows a prior settlement by the broker involved. SEBI reserved the right to reopen proceedings if terms are breached.