SEBI. (pic via Twitter)In a major move towards curbing insider trading, the Securities and Exchange Board of India (SEBI) has decided to include the listed debt securities of equity listed companies under the purview of "System Driven Disclosures".
The SEBI has asked the depositories and stock exchanges to make necessary arrangements such that the disclosures pertaining to listed debt securities, along with equity shares and equity derivative instruments, are disseminated on the websites of respective stock exchanges with effect from July 1, 2021.
The System Driven Disclosures have already been implemented for members of promoter group and designated persons in addition to the promoters and directors of company under Regulation 7(2) of Prohibition of Insider Trading (PIT) Regulations pertaining to trading in equity shares and equity derivative instruments -- futures and options -- of the listed company, wherever applicable by the entities.
The disclosures for equity and equity derivative segments are being displayed on the exchange website under System Driven Disclosures.
"It has now been decided to include the listed debt securities of equity listed companies under the purview of the said System Driven Disclosures for the entities. Further, the procedure for implementation of System Driven Disclosures as provided in SEBI circular no. SEBI/HO/ISD/ISD/CIR/P/2020/168 dated September 9, 2020, shall also be applicable for the listed Debt Securities," said a circular by the regulator on Wednesday.
Stock exchanges are advised to bring the provisions of this circular to the notice of all listed companies and also disseminate the same on their websites, it said.
This news has been published via a Syndicated feed. Only the headline is changed.
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.