SEBI Issues Guidance on Insider Trading Disclosure Requirements
What happened
The Securities and Exchange Board of India issued informal guidance in response to a request from Kotak Mahindra Bank Limited regarding continual disclosure requirements under the SEBI (Prohibition of Insider Trading) Regulations, 2015. The guidance addressed two specific queries: whether disclosure is required for nil-value shareholding changes, and the basis for determining the value of transactions that must be disclosed.
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Why it matters
The guidance clarifies the application of the two-step disclosure mechanism mandated by the PIT Regulations. This affects how listed companies and their insiders must report transactions, particularly those involving non-monetary transfers like gifts or bonus shares.
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Who's involved
- Securities and Exchange Board of IndiaIssued informal guidance on continual disclosure requirements under the PIT Regulations, 2015
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The entities involved
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Securities and Exchange Board of India
registration authority
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