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After near three-year probe, Sebi action in NSE colo case in a 'few days'

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After near three-year probe, Sebi action in NSE colo case in a 'few days'
The exchange, its officials, brokers could face enforcement action
The Securities and Exchange Board of India (Sebi) will soon initiate enforcement action against country's largest stock exchange the National Stock Exchange (NSE) and various other entities involved in an infamous co-location (colo) controversy. The market regulator has been probing the case since early 2015 following multiple complaints that some brokers got preferential access at the exchange’s colo servers.
“We have received investigation reports from the forensic auditors and also from the internal team. We have taken into consideration their recommendations and will be initiating enforcement action on institution and individuals in the coming few days,” said Sebi chairman Ajay Tyagi, while briefing the press on Thursday. Tyagi further said that the issue was complex and have taken almost one year to finalise. He also clarified that NSE’s proposed initial public offering (IPO) is not related to the on-going investigation. NSE in the past has said its IPO will be on hold till the colo issue is resolved. 
The Business Standard, New Delhi, 22nd June 2018

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