August 2015

Clarification on exercise of options / applicability of contra-trade norms, etc. in light of SEBI (Prohibition of Insider Trading) Regulations, 2015

The contra-trade rule under Clause 10, Schedule B of the Model Code of Conduct under the SEBI (PIT) Regulations, 2015, prohibits a person from entering into an opposite transaction in securities within six months of having sold/bought securities. Given the broad definition of trading under the PIT Regulations, 2015 and the absence of any exemption…

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