Sebi bans stock broker Patel Wealth Advisors, others for ‘spoofing activity’

Market regulator SEBI has barred Patel Wealth Advisors from using its proprietary account for trading, alleging involvement in 621 instances of "spoofing" — a manipulative trading practice. Four current and former directors have also been restricted from trading, and SEBI has ordered the seizure of Rs 3.22 crore in unlawful gains.