Description
SEBI issues completion order for Recovery Certificate No. 8219 of 2024 against Riya Jain (Kanungo) in the matter of front running involving various funds of Fidelity Group.
Summary
SEBI has issued a completion order for Recovery Certificate No. 8219 of 2024 against Riya Jain (Kanungo) in connection with front running activities involving various funds of Fidelity Group. This order marks the completion of recovery proceedings initiated against the individual.
Key Points
- Recovery Certificate No. 8219 of 2024 proceedings have been completed
- Individual involved: Riya Jain (Kanungo)
- Matter relates to front running involving various funds of Fidelity Group
- This is a compliance completion order indicating conclusion of recovery proceedings
Regulatory Changes
No regulatory changes. This is an enforcement completion order.
Compliance Requirements
- Recovery proceedings under the specified certificate have been completed
- The order documents the conclusion of enforcement actions against the individual
Important Dates
- Order Date: January 16, 2026
- Recovery Certificate No: 8219 of 2024
Impact Assessment
Market Impact: Low - This is an individual enforcement completion order with no direct market-wide implications.
Operational Impact: Low - The completion order closes recovery proceedings against a specific individual and does not impose new compliance requirements on market participants.
Stakeholder Impact: Limited to the individual named in the order (Riya Jain Kanungo) and relates to concluded front running proceedings involving Fidelity Group funds.
Impact Justification
Completion order indicates recovery proceedings have been concluded against an individual entity (Riya Jain Kanungo) in a front running case. Limited market-wide impact as this is an enforcement completion action.