Citi Bank fraud: Sebi probes violation in income proof rules

Last updated: 08 January 2011

Citi Bank fraud: Sebi probes violation in income proof rules In connection with the alleged Rs 300-crore Citibank fraud, Sebi is probing whether the stock brokers collected from the accused his income proof documents, a mandatory requirement for trade in derivatives market. The market regulator had made it mandatory in December 2009 for the brokerage firms to collect income proof documents from all their clients before allowing them to trade in derivatives segment of the market
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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