Infosys CEO to pay a whole $30K in penance for non-disclosure that enabled insider trading

Infosys CEO Salil Parekh has agreed to pay a fine of ₹25 lakh ($30,000) for failing to implement adequate insider trading controls, according to Securities and Exchange Board of India (SEBI) documents filed on Wednesday. The Board's settlement order states that during the course of an investigation conducted across 2020 and …

[Pascal Monett]

"an approach that spares him an embarassing inquisition"

It also clearly indicates that he is guilty, and the price of the fine is cost of doing business to him, so he doesn't care since there are no other repercussions.

On the other hand, this is not organized-crime-level stuff either, so nailing him to the wall would be a bit overkill. The unjust monies have been impounded, that is certainly punishment enough.

So don't do it again, right ?

[elsergiovolador]

Re: "an approach that spares him an embarassing inquisition"

and least there they flag such things. In the UK anything goes ;-)

[James Hughes 1]

Re: "an approach that spares him an embarassing inquisition"

Absolutely not true. If you get caught insider trading you are in deep doodoo.

[elsergiovolador]

Re: "an approach that spares him an embarassing inquisition"

"If you get caught" is doing a heavy lifting here.

The point is unless you openly advertise that you engage in insider trading and you are not from privileged class, then maybe someone bored of playing Solitaire would pick it up and see if it is slam dunk case. Probably still it would have gone nowhere, because what if you gave a cut to someone powerful? That would put blissful sessions of Solitaire in jeopardy.

[CowHorseFrog]

Re: "an approach that spares him an embarassing inquisition"

Its not organised crime ?

How else did he perform the action ?

Did his cat run on the keyboard ?

[katrinab]

This is the company owned by Rishi Sunak's family?

[Anonymous Coward]

Yep, at least a significant share of it. Govt contracts awarded to Infosys too while he was in post.

If you want to clean up the cronyism, a good place to start would be banning parliament from owning shares. Hah!