International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Insider Trading In India: A critical Evaluation of SEBI's Enforcement Mechanisms

Author(s) Ms. Ishika - Kaur
Country India
Abstract Insider trading is considered an eminent problem for the proper functioning of the securities market, as it enables people to trade with the help of unpublished price sensitive information (UPSI). The purpose of this research paper is to critically assess the measures taken by the Securities and Exchange Board of India (SEBI) to regulate insider trading in India. For this, the legal instruments provided under the SEBI Act of 1992 and the SEBI Prohibition of Insider Trading Regulations of 2015 are analysed.
The paper examines the enforcement regime of SEBI, covering aspects related to surveillance, investigation process, and the penalty system. Some important problems faced by the enforcement regime include the challenge of establishing cases of insider trading using circumstantial evidence, the delay in procedures, ineffective deterrent provided by penalties, and complexity of transactions. The comparison of the enforcement process withthat of the United States reveals the shortcomings in the regime, especially concerning stronger penalties and quick investigations.
The paper finally comes to the conclusion that although the regime in India has developed an effective and evolving regime for the regulation of markets, it is moderately effective in enforcing the laws against insider trading. The necessary steps in improving the regime include stronger penalties, use of advanced technological tools, faster process of adjudication, and provision for whistleblower protection.
Keywords SEBI, UPSI, Securities Market, Market Manipulation, Investor Protection.
Field Sociology > Administration / Law / Management
Published In Volume 8, Issue 2, March-April 2026
Published On 2026-04-12
DOI https://doi.org/10.36948/ijfmr.2026.v08i02.74282
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