Sebi mulls expanding scope of unpublished price-sensitive information, ET LegalWorld
To enhance transparency in market disclosures, Sebi is looking to broaden the scope of Unpublished Price Sensitive Information (UPSI) by including proposed fundraising activities, restructuring plans, and one-time bank settlements. In its consultation paper, Sebi has proposed that only agreements, including shareholder, joint venture and family settlement, that affect the management and control of the […]
Sebi’s proposed insider trading amendments face criticism for expanding definitions, ET LegalWorld
Sebi recently proposed amendments to the Sebi (Prohibition of Insider Trading) Regulations 2015. Under PIT regulations, an ‘insider’ is someone who has access to unpublished price-sensitive information (UPSI) or is a ‘connected person’. The proposal expands the current law, which criminalises certain conduct by creating a presumption, effectively overturning the ‘innocent until proven guilty’ principle. […]
Sebi mulls expanding scope of informal guidance scheme, raises fees, ET LegalWorld
Capital markets regulator Sebi on Friday proposed changes to the informal guidance scheme to expand the list of applicants that can seek guidance under the plan and enhance the fee for making an application. In its consultation paper, Sebi has proposed that stock exchanges, clearing corporations, depositories and managers of a pooled investment vehicle registered […]