The Investigation Cell conducts following types of analysis of suspected market irregularities in a systematic and logical manner and then take appropriate and timely actions.
- Snap Investigations :
Potential cases of market irregularities are taken up for further analysis. A preliminary analysis of the trading pattern and corporate developments in the Security is done to ascertain whether the price or volume variation observed requires further detailed analysis.
- Examinations :
Examinations are a more detailed form of preliminary analysis of the trading pattern and various developments in the company wherein a report is prepared. These examinations are conducted usually on receiving a reference from SEBI or any other department of BSE or is based on an investor complaint.
- Investigations :
These are full-fledged and detailed investigations wherein a complete analysis is conducted in a systematic and logical manner based on the information available with BSE and information sought/received from the Members, companies, depositories and various other sources. These investigations are conducted to establish the manipulation that was suspected in the preliminary analysis.
The Surveillance Department imposes a penalty or deactivates the BOLT terminals or suspends the Members who are involved in market manipulation, based on the input/ evidence available from the investigation report or as and when directed by SEBI. The cases of habitual offenders are taken to the Disciplinary Action Committee, which takes necessary disciplinary actions against such Members.