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.
Related terms
- Cookie-jar reserve
- An accounting reserve built up in a period of strong earnings by overstating provisions or allowances, then released in a later period...
- Earnings management
- The use of accounting choices, estimates, and timing decisions within the bounds of GAAP or IFRS to influence reported earnings. Permissible in...
- Financial-statement fraud
- Intentional misstatement or omission in financial reports to deceive users of those reports, typically to inflate earnings, understate liabilities, or maintain a...
- Materiality
- The threshold at which a misstatement or omission would influence the decisions of a reasonable user of the financial statements. Assessed both...
- SEC Staff Accounting Bulletin No. 99 (SAB 99)
- A 1999 SEC interpretive release stating that the traditional five-percent quantitative threshold for materiality is not a safe harbour and that qualitative...
Explained in
- Earnings Management Versus Fraud: The ContinuumThe Securities and Exchange Board of India's Prohibition of Fraudulent and Unfair Trade Practices (Relating to Securities Markets) Regulations 2003. The primar...