- SEBI warns of strict action against any manipulation of the CAS system
- SEBI is better equipped now to detect manipulation in the CAS framework
- SEBI plans to allow after-market orders from 3:15 to 3:20 PM under CAS
SEBI Chairman Tuhin Kanta Pandey has warned that any attempt to manipulate the Capital Market Auction System (CAS) will invite strict and immediate regulatory action. Speaking at FICCI's Annual Capital Markets Conference 2026, Pandey said the markets regulator believes it is now better equipped to detect manipulation in CAS than in the past.
“If anyone manipulates the CAS system, SEBI will act strictly and immediately,” Pandey said, adding that manipulation is easier to detect under CAS.
SEBI is also preparing to allow after-market orders (AMOs) during the 3:15-3:20 PM window under the CAS framework, as per sources. The regulator has asked brokers to accept orders during this five-minute period, with those orders to be pushed into the market after 3:20 PM.
The change is aimed at improving price discovery around the market close. The rollout is being prepared and could begin around September 1, sources added.
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Pandey also said SEBI wants to make India a more viable base for global fund management activity. The broader aim is to enable fund managers to remain and operate from India rather than setting up operations in financial centres such as Singapore.
On artificial intelligence regulation, Pandey said the process linked to SEBI's earlier consultation paper has not been concluded. The regulator is changing its approach to AI-related guidance as it works on the framework.
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