Regulations: Brothers in Arms

How SEBI sleeps over obvious connections

A trial in the UK over the nexus between a team of Union Bank of Switzerland (UBS) rogue traders headed by one Sachin Karpe made headlines in India in December 2011. The story is old. Sachin Karpe and his team of five were sacked from the London office in 2008 and, in August 2009, the UK Financial Service Authority (FSA) not only slapped a penalty of £8...

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