Thanks for the write-up! The real mystery: why didn't Capital group just go to a well-reputed investment banker or brokerage instead of a "fly-by-night" independent operator? Did SEBI mention anything about this?
SEBI did do a sanity check of ensuring that the Group's traders weren't acting without the company's knowledge, but I don't think they have an answer for *why* the Group was okay with going to a rando in Singapore in the first place.
I don't blame SEBI here -- as long as the traders used the official channels of communication, and as long as there's no money trail that leads back to them, they're free to do what they like. The firm itself isn't regulated by SEBI, being a foreign investor.
Thanks for the write-up! The real mystery: why didn't Capital group just go to a well-reputed investment banker or brokerage instead of a "fly-by-night" independent operator? Did SEBI mention anything about this?
SEBI did do a sanity check of ensuring that the Group's traders weren't acting without the company's knowledge, but I don't think they have an answer for *why* the Group was okay with going to a rando in Singapore in the first place.
I don't blame SEBI here -- as long as the traders used the official channels of communication, and as long as there's no money trail that leads back to them, they're free to do what they like. The firm itself isn't regulated by SEBI, being a foreign investor.