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Sebi urges banks to boost insider trading compliance

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Sebi Chairman Tuhin Kanta Pandey on Wednesday said following insider trading regulations was the moral responsibility of banks’ management who also had to strengthen internal controls to detect and prevent such violations.

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“Insider trading risks thrive where controls are weak — processes are unclear, responsibilities are undefined, and oversight is inconsistent,” Pandey told managing directors and chief executives of listed banks, noting that weak controls remained the prime reason behind many frauds.

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