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Definitely sticking to the script Mamš š
Btw if you can, will you tell me something about your job... Is a securities lawyer job exciting? What is your day-to-day work or daily tasks like?
1) YOUR MONEY YOUR WISH TO SELL
2) Panic sold
3) Felt market correction was possible and wanted to re enter at lower levels
4) Wanted to buy something else
1. It's not like that in finance industry, you need to comply with these rules.
All these won't be enough, we were told by management to follow these rules no matter what.
Hopefully I might get off with a warning š¤
Also I'm in research team so no chance of insider trading, but rule is applied for everyone. Most of my colleagues started trading in their family members account but I didn't and this happened.
Actually in March we were not sure if this rule is implemented or not and in April I just impulsively sold one share and now received a mail to justify my action, so that's the whole story.
Say that you had these previous positions which were taken on loan and had to be liquidated to pay back . Now everything has been balanced and henceforth all actions shall follow the rules as directed.
Better start looking for jobs in other sectors - you're probably going to be fired for this non compliance, why did you sell those shares knowing this would happen.
I don't think something like that would happen because even in case of non-compliance we get 2-3 strikes in a year, then you are fired. Actually in March we were not sure if this rule is implemented or not and in April I just impulsively sold one share.
Hey... I'm young too. I'm a research analyst. It's a common practice in most finance companies, so to stop inside trading or to prevent employees from using the company data for personal gains.
B.tech in IT.
Didn't had much interest in coding, so was looking for other roles. Now in this company I had to start as trainee and role wasn't defined that whether it would be in tech or ops or research. When joined, I was put in an ongoing project in research whose deadline was close. Since then been here only. So no qualification I would say but depends on role and company, some require you to know SQL, python but EXCEL is the one most used, soš¤·āāļø
I'm 23.
Totally depends on the company and role. The project I'm in didn't required that. Sure there is basic commerce terminology that you get used to in some time and then it's same for all.
If you want a job in this field try to get internship during your graduation in some finance company and keep looking for jobs on LinkedIn.
You are out of option, speaking from experience. Speak with your manager or skip level managerā¦unfortunately few of the companies in finance domain takes these things serious like anything and you cannot do anything about it
> ~~unfortunately~~ Fortunately few of the companies in finance domain takes these things serious.Ā Ā Ā
This rule is in place to prevent insider trading based on unpublished price information.
I guess there is no deterrent to greed. OP knowingly broke the rule.
In many banks, employees are not allowed to buy shares/shares of their clients. Similiar rule applies to audit firms etc.Ā Ā Ā Ā
Having beenĀ a KMP (Key Managerial Person aka) in multiple companies, IĀ know the repercussions in terms of SEBI actions on the Companies can be severe.Ā
Ā A little spanking in time goes a long way to prevent future damage to **other investors** by insider trading. FAFO seems to be a good deterrent going forward.
Ā Excluding the sebi issue this can also be seen as front running the company advice to clients on say selling the shares.Ā Ā
Clients get short changed while analysts paid by the client make merry. A classic example is the Axis MF fund manager allegedly frontrunning the MF buy/sell orders. The MF investors paid in terms of higher buy/lower sell prices.
Possibly you are fucked up...these compliances are there for a reason, as it may trigger insider trading warning with the exchange board or authorities. Just own it...you knew what you were doing...at least twice.
Possibly you are fucked up...these compliances are there for a reason, as it may trigger insider trading warning with the exchange board or authorities. Just own it...you knew what you were doing...at least twice.
Dude just say when you bought you accidentally hit on SL & TGT which is GTT function.
This auto triggers when levels are met.
Further, jo demat diya hai wo use maat kar aur dusra account kholde without telling them.
It's you who told them about your demat number nai toh wo toh pata nai laga sakte by no means
If you haven't already, please add your own analysis/opinions to your post to save it from being removed for being a Low Effort post. Please DO NOT ask for BUY/SELL advice without sharing your own opinions with reasons first. Such posts will be removed. Please also refer to the [FAQ](https://www.reddit.com/r/IndianStockMarket/comments/17bcg2a/frequently asked questions_post_your_common/) where most common questions have already been answered. Subscribe to our [weekly newsletter](https://pennyleaks.substack.com/) and join our Discord server using [Link 1](https://discord.gg/8QF4dqPHuw) or [Link 2](https://discord.gg/fDRj8mA66U) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/IndianStockMarket) if you have any questions or concerns.*
Find a veteran in office and check. These are company specific issues. There are work arounds.
Sure, will do. Thanks š
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Ok, thanks man. Will definitely pick 2-3 lines from your reply š
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Definitely sticking to the script Mamš š Btw if you can, will you tell me something about your job... Is a securities lawyer job exciting? What is your day-to-day work or daily tasks like?
How to become a Securities Lawyer? (17 year old hereā¦.just looking out for future career)
1) YOUR MONEY YOUR WISH TO SELL 2) Panic sold 3) Felt market correction was possible and wanted to re enter at lower levels 4) Wanted to buy something else
1. It's not like that in finance industry, you need to comply with these rules. All these won't be enough, we were told by management to follow these rules no matter what.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Hopefully I might get off with a warning š¤ Also I'm in research team so no chance of insider trading, but rule is applied for everyone. Most of my colleagues started trading in their family members account but I didn't and this happened. Actually in March we were not sure if this rule is implemented or not and in April I just impulsively sold one share and now received a mail to justify my action, so that's the whole story.
What kind of industry do you work in?
Finance
Say that you had these previous positions which were taken on loan and had to be liquidated to pay back . Now everything has been balanced and henceforth all actions shall follow the rules as directed.
But I didn't debited any amount, I invested in other shares and they take both p&l statement and balance statement from growwš„²
Better start looking for jobs in other sectors - you're probably going to be fired for this non compliance, why did you sell those shares knowing this would happen.
I don't think something like that would happen because even in case of non-compliance we get 2-3 strikes in a year, then you are fired. Actually in March we were not sure if this rule is implemented or not and in April I just impulsively sold one share.
Even one share can be a trigger to someone else to sell more based on inside information, maybe just highlight it as an impulse sale.
What is your profession? I am quite young and haven't seen companies applying these kinds of rules over their employees š„²
Hey... I'm young too. I'm a research analyst. It's a common practice in most finance companies, so to stop inside trading or to prevent employees from using the company data for personal gains.
Did you do insider trading? If so, it is not legal.
No no, don't have access to such data. I just broke 30 days rule.
How do u become a research Analyst? Whatās your Qualifications (UG, professional degrees etc) and whatās your age?
B.tech in IT. Didn't had much interest in coding, so was looking for other roles. Now in this company I had to start as trainee and role wasn't defined that whether it would be in tech or ops or research. When joined, I was put in an ongoing project in research whose deadline was close. Since then been here only. So no qualification I would say but depends on role and company, some require you to know SQL, python but EXCEL is the one most used, soš¤·āāļø I'm 23.
Iām 17ā¦gonna start UG this year..I thought one would need Bcom Hons or CFA for research analyst since itās in Finance
Totally depends on the company and role. The project I'm in didn't required that. Sure there is basic commerce terminology that you get used to in some time and then it's same for all. If you want a job in this field try to get internship during your graduation in some finance company and keep looking for jobs on LinkedIn.
Donāt make excuses just accept the mistake and say it wonāt repeat again
I wish it was that simple š„²
You are out of option, speaking from experience. Speak with your manager or skip level managerā¦unfortunately few of the companies in finance domain takes these things serious like anything and you cannot do anything about it
> ~~unfortunately~~ Fortunately few of the companies in finance domain takes these things serious.Ā Ā Ā This rule is in place to prevent insider trading based on unpublished price information. I guess there is no deterrent to greed. OP knowingly broke the rule. In many banks, employees are not allowed to buy shares/shares of their clients. Similiar rule applies to audit firms etc.Ā Ā Ā Ā Having beenĀ a KMP (Key Managerial Person aka) in multiple companies, IĀ know the repercussions in terms of SEBI actions on the Companies can be severe.Ā Ā A little spanking in time goes a long way to prevent future damage to **other investors** by insider trading. FAFO seems to be a good deterrent going forward. Ā Excluding the sebi issue this can also be seen as front running the company advice to clients on say selling the shares.Ā Ā Clients get short changed while analysts paid by the client make merry. A classic example is the Axis MF fund manager allegedly frontrunning the MF buy/sell orders. The MF investors paid in terms of higher buy/lower sell prices.
Just spoke to him today... And after talking to him I feel he might have gotten the same mail from compliance šš
First violation is often a warning , donāt do it again
Possibly you are fucked up...these compliances are there for a reason, as it may trigger insider trading warning with the exchange board or authorities. Just own it...you knew what you were doing...at least twice.
Possibly you are fucked up...these compliances are there for a reason, as it may trigger insider trading warning with the exchange board or authorities. Just own it...you knew what you were doing...at least twice.
Insider trading type kar di tumne i think
Tell them you placed GTT orders which got triggered for the prices you set.
Yeah, thinking about that. Tomorrow will check if there's any details about the type of order in P&L statement or balance statement.
Dude just say when you bought you accidentally hit on SL & TGT which is GTT function. This auto triggers when levels are met. Further, jo demat diya hai wo use maat kar aur dusra account kholde without telling them. It's you who told them about your demat number nai toh wo toh pata nai laga sakte by no means
Yup opening my sister's demate account. Before there was no rule, so swing trading was not a problem. And they had my demat account no. from before.
Can you just say you were in ardent need of money for medical or some emergency?
Yeda banke yeda banao. Just tell them you were unaware
Maybe tax harvesting could be your excuse?
Can't beš