PFUTP Regulations 2003
Definition
The Securities and Exchange Board of India's Prohibition of Fraudulent and Unfair Trade Practices (Relating to Securities Markets) Regulations 2003. The primary regulatory framework for securities fraud enforcement in India, applied in conjunction with Sections 447 and 448 of the Companies Act 2013 for criminal prosecution.
- Regulator
- Securities and Exchange Board of India (SEBI)
- Full name
- Prohibition of Fraudulent and Unfair Trade Practices Regulations 2003
- Companion law
- Companies Act 2013, Sections 447 and 448
- Scope
- Securities market fraud in India
Common questions
Do PFUTP proceedings result in civil or criminal consequences?+
SEBI enforcement under PFUTP is primarily civil and regulatory, resulting in penalties, disgorgement or market bans, while criminal prosecution for the same conduct proceeds separately under the Companies Act fraud provisions.
Who typically investigates and enforces PFUTP violations?+
SEBI conducts the investigation and adjudication itself through its enforcement department, with matters that also involve criminal fraud referred for prosecution under the Companies Act alongside the SEBI action.
Related terms
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- Materiality
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