Listed firms are rushing to comply with the Securities and Exchange Board of India’s latest insider trading regulations ahead of the March 31 deadline. The regulator had asked companies to frame their insider trading rules in the new financial year starting April 1.
“Pursuant to Sebi’s notification on December 31, 2018, various new compliance requirements have been imposed on listed companies and intermediaries. Sebi has asked listed companies to have in place a policy and procedure for ..
to frame a policy pertaining to whistle-blowers for reporting any violations pertaining to insider trading by designated employees,” he added. Regulation prohibits an insider from trading in securities while in possession of UPSI. The amendment has added an explanation to the clause which says that all trades undertaken while in possession of UPSI will be presumed to be ‘motivated’ by UPSI. Tomu said, “Over the last few weeks, we have been helping many such entities in enhancing their internal f ..
While some lawyers said these amendments will bring more transparency to the system, others said it will increase the compliance cost for companies.
“Pursuant to Sebi’s notification on December 31, 2018, various new compliance requirements have been imposed on listed companies and intermediaries. Sebi has asked listed companies to have in place a policy and procedure for ..
to frame a policy pertaining to whistle-blowers for reporting any violations pertaining to insider trading by designated employees,” he added. Regulation prohibits an insider from trading in securities while in possession of UPSI. The amendment has added an explanation to the clause which says that all trades undertaken while in possession of UPSI will be presumed to be ‘motivated’ by UPSI. Tomu said, “Over the last few weeks, we have been helping many such entities in enhancing their internal f ..
While some lawyers said these amendments will bring more transparency to the system, others said it will increase the compliance cost for companies.
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