{"id":43644,"date":"2022-05-19T13:44:00","date_gmt":"2022-05-19T08:14:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=43644"},"modified":"2022-05-19T13:42:36","modified_gmt":"2022-05-19T08:12:36","slug":"biz-axis-amc-4","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-axis-amc-4\/","title":{"rendered":"Axis AMC terminates chief trader Viresh Joshi over alleged front-running allegations"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3226041628\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Axis Asset Management Company, the mutual fund promoted by Axis Bank, has terminated its chief trader and fund manager Viresh Joshi, who was facing allegations of front-running.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2822942881\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>Front-running refers to an illegal practice in the stock market where an entity trades on the basis of advance information from a broker or analyst before the information has been made available to their clients.<\/p>\n<p>Earlier this month, Axis AMC had suspended two of its fund managers, including Joshi, pending completion of the investigation.<\/p>\n<p>&#8220;Axis AMC has been conducting a suo moto internal investigation since February 2022, using reputed external advisors to assist with this ongoing investigation. Further to our investigation, his conduct and following the decision to suspend him, the employment of Viresh Joshi has been terminated with effect from May 18, 2022,&#8221; according to a statement from the fund house.<\/p><div class=\"trade-content_5\" id=\"trade-3797114110\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>&#8220;Accordingly, Viresh Joshi ceases to be a Key Person of Axis AMC,&#8221; it added.<\/p>\n<p>However, Axis AMC did not elaborate on the violations that led to its chief trader&#8217;s sacking.<\/p>\n<p>Axis AMC, which is one of the leading mutual funds in the country with assets under management to the tune of Rs 2.59 lakh crore, is facing allegations of front running and a reported regulatory probe. PTI SP DRR DRR<\/p>\n<div class=\"trade-after-content\" id=\"trade-3696518476\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Axis Asset Management Company, the mutual fund promoted by Axis Bank, has terminated its chief trader and fund manager Viresh Joshi, who was facing allegations of front-running. Front-running refers to an illegal practice in the stock market where an entity trades on the basis of advance information from a broker or analyst before the information [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":40553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31,1789],"tags":[],"class_list":["post-43644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Axis AMC terminates chief trader Viresh Joshi over alleged front-running allegations - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-axis-amc-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Axis AMC terminates chief trader Viresh Joshi over alleged front-running allegations\" \/>\n<meta property=\"og:description\" content=\"Axis Asset Management Company, the mutual fund promoted by Axis Bank, has terminated its chief trader and fund manager Viresh Joshi, who was facing allegations of front-running. 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