Adjudication Order in the matter of Front Running of trades of Axis Mutual Fund by certain clients of Pace Stock Broking Services Private Limited
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What is this order about?
SEBI found that Pace Stock Broking Services Private Limited failed to maintain required records and had a clerical error in reporting a dealer's identity, which led to a front-running investigation involving Axis Mutual Fund trades.
Who it concerns
Pace Stock Broking Services Private Limited
What was found or directed
- SEBI found Pace Stock Broking Services Private Limited failed to maintain IP address records as required
- SEBI found Pace Stock Broking Services Private Limited had a clerical error in reporting dealer Mr. Kaleeswaran Pandian's identity
- SEBI found Pace Stock Broking Services Private Limited's dealer Mr. Rajeev Ranjan executed trades under a misreported ID
- SEBI found Pace Stock Broking Services Private Limited violated SEBI Circular dated November 06, 2013, regulations 9(b) and 9(f) of Stock Brokers Regulations, and clause A(5) of Code of Conduct for Stock Brokers
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/JS/RJ/2026-27/32501 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
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Documents
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Order
2026-07-22
ORDER_1784701670.pdf
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