Markets regulator SEBI has imposed a penalty totalling Rs 2 crore on four entities in HDFC Asset Management Company (AMC) front-running case. Front-running refers to an unethical practice by someone trading in shares on the basis of advance information given by a broker, analyst or other executive at a market intermediary before the trades are conducted by that entity.
HDFC AMC provides the product and services of Asset Management is childrens gift funds, Fixed maturity plan, Debt/income fund, liquid fund, Equity/growth fund, Exchange traded fund, Fund of fund schemes, Quarterly internal fund, Rajiv Gandhi Equity savings fund, HDFC annual internal fund Series 1.
