Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2024
Foreword:
SEBI vide Notification No. SEBI/LAD-NRO/GN/2024/181 came up with the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2024 to further amend the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.
The SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2024 shall come into force on the date of their publication in the Official Gazette.
Highlights:
The definition of “generally available information” now stands amended.
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(1) after the words “appreciate what” and before the words “unpublished price”, the word ‘constitutes” shall be inserted;
(2) the word “is” appearing after the words “unpublished price sensitive information” and before the symbol “.”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.
Consequent to amendment, Regulation 2(1) (e) to be read as:
| Pre-amendment text | Pre-amendment text |
|---|---|
| “generally available information” means information that is accessible to the public on a non-discriminatory basis; NOTE: It is intended to define what |
“generally available information” means information that is accessible to the public on a non-discriminatory basis and shall not include unverified event or information reported in print or electronic media; NOTE: It is intended to define what |
