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Informist, Tuesday, Aug. 12, 2025

 

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--SEBI releases annual report for FY25 
--CONTEXT: Comments, data from SEBI FY25 annual report 
--SEBI: Took up 106 fraud, unfair trade probes FY25 vs 160 year ago
--SEBI: Took up 61 price rigging probes FY25 vs 77 year ago
--SEBI: Took up 44 front running probes FY25 vs 83 year ago
--SEBI: Took up 287 insider trading probes FY25 vs 175 year ago
--SEBI: Inspected 312 stock brokers FY25 vs 146 year ago
--SEBI: Inspected 149 research analysts FY25 vs 15 year ago
--SEBI: Inspected 207 investment advisers FY25 vs 21 year ago
--SEBI: Inspected 24 mutual funds FY25 vs 25 year ago
--SEBI: Took up 59 company fincl statement fraud probes FY25 vs 63 year ago

 

 

 

 

 

 

NEW DELHI – The Securities and Exchange Board of India investigated 400 cases on suspicion of violations of securities laws in 2024-25 (Apr-Mar), with a sharply higher jump in insider trading concerns compared with FY24, according to its Annual Report 2024-25 released Tuesday. Insider trading violations formed nearly 72% in FY25, compared to roughly 50% of its overall investigations in FY24, data showed.

 

Out of the 287 insider trading violation investigations in FY25, SEBI completed its probe into 192 cases, or 67% of its investigations. In contrast, the regulator completed 130 out of the 175 investigations into the matter in FY24, or 74%.

 

SEBI investigated 106 cases related to market manipulation and price rigging in FY25, compared with 160 in FY24. In FY25, the regulator completed all of its investigations into this concern, barring one. This is a stark improvement from the 36% of the investigations completed in FY24.  

 

 

SEBI gets notified about these complaints through its in-house surveillance system, which raises red flags on any aberration in trading patterns. These cases include violations around SEBI's Prohibition of Fraudulent and Unfair Trade Practices, 2003, which help the regulator protect investors by prohibiting manipulative, deceptive, and fraudulent activities.

 

Of the 106 cases related to fraudulent and unfair trade practices taken up by the regulator, 61 pertain to price and volume manipulation. This is lower than the 77 cases of price and volume manipulation in FY24. SEBI completed 46 cases into the same concern in FY25, compared with 39 cases in FY24.

 

SEBI investigated 44 cases of front running in FY25, much lower than the 83 in FY24.

 

As part of its investigations into allegations of misstatement of financial statements by listed companies, SEBI probed 59 companies in FY25, four fewer than it did in FY24. SEBI issued nine administrative warning letters to companies in FY25, compared to zero in FY24. It initiated proceedings under Section 11 of SEBI Act, 1992, against 670 companies in FY25, sharply higher than 64 entities in FY24. 

 

INSPECTIONS

The regulator routinely inspects operations of market infrastructure institutions to check if legal and regulatory requirements are being followed. SEBI inspected 312 stock brokers in FY25, compared with 146 a year ago. As many as 90 depository participants faced inspection by SEBI in FY25, more than double of the 40 entities inspected in FY24.

 

 

During its inspection of entities associated with fund management activities, SEBI inspected 24 mutual funds in FY25, one fewer than in FY24. SEBI stepped up its checks on infrastructure investment trusts in India, amid the rising value of assets under management. As many as 17 infrastructure investment trusts faced SEBI inspections in FY25, compared with six the year before. SEBI inspected five real estate investment trusts in FY25, compared with six in FY24.

 

The regulator also inspected the operations of other entities that are associated with the securities market. "There has been a substantial rise in the number of inspections conducted for investment advisers, research analysts and RTAs (registrar and transfer agents) during 2024-25 vis-a-vis 2023-24," SEBI said.

 

SEBI inspected 149 research analysts in FY25, markedly higher than 15 inspected in the previous year. Similarly, 207 investment advisers were inspected in the last financial year, sharply higher than 21 in FY24. As many as 51 merchant bankers faced SEBI inspections in FY25, nearly 10?wer year-on-year.  End

 

Reported by Anand JC

Edited by Akul Nishant Akhoury

 

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