 "Sebi")
IIFL Wealth Management on Friday paid a settlement amount of over Rs 3 crore to markets regulator Sebi to settle a case pertaining to violations of regulatory norms.
The company was alleged to have violated stock brokers' regulation as well as PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations.
It was alleged that IIFL Wealth Management and IIFL Securities Ltd knowingly manipulated the reference price of Alkem Laboratories for a block deal.
Sebi had conducted an examination of block deals to check any manipulation of reference price considered for execution of block deal trades in the scrip of Alkem Laboratories for the
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