Home India Securities and Exchange Board of India In exercise of the powers conferred by section 30 read with ...
Date: 17-May-2024 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by section 30 read with clause g of sub section 2 of section 11 and clauses d and e of section

Issued by Securities and Exchange Board of India · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The gazette notification announces the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2024.
  • These regulations further amend the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.
  • The regulations come into force on the date of their publication in the Official Gazette, May 17, 2024.

Key Changes

  • Amendment to Regulation 2(1)(e) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015: Information available to the public on a non-discriminatory basis will not include unverified event or information reported in print or electronic media.
  • Amendment to the NOTE under Regulation 2(1)(e): The word 'constitutes' shall be inserted after the words 'appreciate what' and before the words 'unpublished price'.
  • Amendment to the NOTE under Regulation 2(1)(e): The word 'is' appearing after the words 'unpublished price sensitive information' and before the symbol '.' shall be omitted.

Impact Analysis

Listed Companies

  • Review internal controls to prevent reliance on unverified media reports as a basis for trading decisions.

Investors

  • Investors should conduct their own due diligence and verify information from reliable sources before making investment decisions.

Intermediaries (Brokers, Investment Banks, etc.)

  • Enhance monitoring systems to detect and prevent potential insider trading based on unverified media reports.

Legal and Compliance Professionals

  • They need to ensure that internal investigations and enforcement actions are consistent with the amended regulations.

Key Entities Referenced

Securities and Exchange Board of India (SEBI): The regulatory body responsible for protecting the interests of investors in securities and promoting the development of and regulating the securities market. Securities and Exchange Board of India Act, 1992: The Act that establishes SEBI and provides it with the powers to regulate the securities market. Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015: The regulations that prohibit insider trading in India.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 xxxGIDHxxx सी.जी.-एम.एच.-अ.-18052024-254226 xxxGIDExxx CG-MH-E-18052024-254226 असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 360] िई ददल्ली, ि क्रिार, मई 17, 2024/ििै ाख 27, 1946 No.360] NEW DELHI, FRIDAY, MAY 17, 2024/VAISAKHA 27, 1946 भारतीय प्रजतभजू त और जिजिमय बोडड अजधसचू िा म ंबई, 17 मई, 2024 भारतीय प्रजतभजू त और जिजिमय बोडड (अतं रंग व्यापार का प्रजतषधे ) (सिं ोधि) जिजियम, 2024 स.ं सबे ी/एल.ए.डी.-एि.आर.ओ./िी.एि./2024/181 - बोडड, भारतीय प्रजतभूजत और जिजिमय बोडड अजधजियम, 1992 (1992 का 15) की धारा 11 की उप-धारा (2) के खंड (छ) और धारा 12क के खंड (घ) एि ं खंड (ङ) के साथ पठित धारा 30 द्वारा प्रदाि की गई िजियों का प्रयोग करत े हुए, एतद्द्वारा भारतीय प्रजतभूजत और जिजिमय बोडड (अंतरंग व्यापार का प्रजतषेध) जिजियम, 2015 का और संिोधि करिे के जलए जिम्नजलजखत जिजियम बिाता ह,ै अथाडत:् - 1. इि जिजियमों को भारतीय प्रजतभूजत और जिजिमय बोडड (अंतरंग व्यापार का प्रजतषेध) (संिोधि) जिजियम, 2024 कहा िा सकेगा । 2. ये जिजियम रािपत्र म ेंइिके प्रकाजित होिे की तारीख से लाग ूहोंगे । 3. भारतीय प्रजतभूजत और जिजिमय बोडड (अंतरंग व्यापार का प्रजतषेध) जिजियम, 2015 म,ें जिजियम 2 म,ें उप- जिजियम (1) म,ें खंड (ङ) म,ें- 3085 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] I. िब्दों “से िह िािकारी अजभप्रते ह ै जिस तक ििता जबिा दकसी भेदभाि के पहुचुँ रख सकती हो” के स्ट्थाि पर िब्द तथा जचह्ि “का अथड ह ै – िह िािकारी, िो ििता के जलए जबिा दकसी भेदभाि के उपलब्ध हो, और जिसके अंतगतड प्प्रंट मीजडया या इलेक्ट्रॉजिक मीजडया में आई ऐसी दकसी घटिा आदद की िािकारी िाजमल िहीं होगी जिसकी प जि ि की गई हो” आ िाएुँग;े II. उसके ठटप्पण म,ें - (1) िब्दों “अप्रकाजित कीमत संिेदििील िािकारी क्ट्या” के बाद और िब्द तथा जचह्ि “ह ै ।” स े पहल,े िब्द “होती” िोड़ा िाएगा; (2) िब्दों “दकसी स्ट्टॉक एक्ट्सचेंि” के बाद ददए हुए िब्दों “के िबे साइट” के स्ट्थाि पर िब्द “की िेबसाइट” आ िाएगुँ े । बबीता राय डू, कायडपालक जिदेिक [जिज्ञापि-III/4/असा./129/2024-25] पाद ठटप्पण: 1. भारतीय प्रजतभूजत और जिजिमय बोड ड (अंतरंग व्यापार का प्रजतषेध) जिजियम, 2015, सं. एल.ए.डी./एि.आर.ओ./िी.एि./2014-15/21/85, 15 िििरी 2015 को भारत के रािपत्र में प्रकाजित हुए थे । 2. भारतीय प्रजतभूजत और जिजिमय बोड ड (अंतरंग व्यापार का प्रजतषेध) जिजियम, 2015 तत्पश्चात:् i. 31 ददसम्बर, 2018 को भारतीय प्रजतभूजत और जिजिमय बोडड (अंतरंग व्यापार का प्रजतषेध) (संिोधि) जिजियम, 2018, सं. सेबी/एल.ए.डी.-एि.आर.ओ./िी.एि./2018/59, द्वारा ii. 21 िििरी, 2019 को भारतीय प्रजतभूजत और जिजिमय बोडड (अंतरंग व्यापार का प्रजतषेध) (संिोधि) जिजियम, 2019, सं. सेबी/एलएडी-एि.आर.ओ./िी.एि./2019/02, द्वारा iii. 25 ि लाई, 2019 को भारतीय प्रजतभूजत और जिजिमय बोड ड (अंतरंग व्यापार का प्रजतषेध) (दसू रा संिोधि) जिजियम, 2019, सं. सेबी/एल.ए.डी.-एि.आर.ओ./िी.एि./2019/23, द्वारा iv. 17 जसतम्बर, 2019 को भारतीय प्रजतभूजत और जिजिमय बोड ड (अंतरंग व्यापार का प्रजतषेध) (तीसरा संिोधि) जिजियम, 2019, स.ं सेबी/एल.ए.डी.-एि.आर.ओ./िी.एि./2019/32, द्वारा v. 17 ि लाई, 2020 को भारतीय प्रजतभूजत और जिजिमय बोडड (अंतरंग व्यापार का प्रजतषेध) (संिोधि) जिजियम, 2020, स.ं सेबी/एलएडी-एिआरओ/िीएि/2020/23, द्वारा vi. 29 अिूबर, 2020 को भारतीय प्रजतभूजत और जिजिमय बोड ड (अतं रंग व्यापार का प्रजतषेध) (दसू रा संिोधि) जिजियम, 2020, स.ं सेबी/एलएडी-एिआरओ/िीएि/2020/38, द्वारा vii. 26 अप्रलै , 2021 को भारतीय प्रजतभूजत और जिजिमय बोडड (अंतरंग व्यापार का प्रजतषेध) (संिोधि) जिजियम, 2021, स.ं सेबी/एलएडी-एिआरओ/िीएि/2021/17, द्वारा viii. 5 अगस्ट्त, 2021 को भारतीय प्रजतभूजत और जिजिमय बोडड (अंतरंग व्यापार का प्रजतषधे ) (दसू रा संिोधि) जिजियम, 2021, स.ं सेबी/एलएडी-एिआरओ/िीएि/2021/37, द्वारा[भाग III—खण् ड 4] भारत का रािपत्र : असाधारण 3 ix. 24 ििम्बर, 2022 को भारतीय प्रजतभूजत और जिजिमय बोडड (अतं रंग व्यापार का प्रजतषेध) (संिोधि) जिजियम, 2022, स.ं सेबी/एल.ए.डी.-एि.आर.ओ./िी.एि./2022/108, द्वारा संिोजधत हुए थ े । SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 17th May, 2024 SECURITIES AND EXCHANGE BOARD OF INDIA (PROHIBITION OF INSIDER TRADING) (AMENDMENT) REGULATIONS, 2024 No. SEBI/LAD-NRO/GN/2024/181 ─ In exercise of the powers conferred by section 30 read with clause (g) of sub- section (2) of section 11 and clauses (d) and (e) of section 12A of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, namely: — 1. These regulations may be called the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2024. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, in regulation 2, in sub-regulation (1), in clause (e), - I. after the words “non-discriminatory basis” and before the symbol “;”, the words “and shall not include unverified event or information reported in print or electronic media” shall be inserted; II . in the NOTE thereto, - (1) after the words “appreciate what” and before the words “unpublished price”, the word ‘constitutes” shall be inserted; (2) the word “is” appearing after the words “unpublished price sensitive information” and before the symbol “.” shall be omitted. BABITHA RAYUDU, Executive Director [ADVT.-III/4/Exty./129/2024-25] Footnotes: 1. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 was published in the Gazette of India on January 15, 2015 vide No. LAD-NRO/GN/2014-15/21/85. 2. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, were subsequently amended on: i. December 31, 2018 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2018 vide No. SEBI/LAD-NRO/GN/ 2018/59. ii. January 21, 2019 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019 vide No. SEBI/LAD-NRO/GN/ 2019/02. iii. July 25, 2019 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2019 vide No. SEBI/LAD-NRO/GN/ 2019/23. iv. September 17, 2019 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Third Amendment) Regulations, 2019 vide No. SEBI/LAD-NRO/GN/ 2019/32. v. July 17, 2020 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2020 vide No. SEBI/LAD-NRO/GN/ 2020/23. vi. October 29, 2020 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2020 vide No. SEBI/LAD-NRO/GN/ 2020/38. vii. April 26, 2021 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/ 2021/17. viii. August 05, 2021 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/ 2021/37. ix. November 24, 2022 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2022 vide No. SEBI/LAD-NRO/GN/2022/108 5Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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