Insider Trading

Sebi’s Informal Guidance to Kotak Mahindra: Intepreting continuous disclosure norms under the Insider Trading Regulations

Introduction In a recent informal guidance issued to Kotak Mahindra Bank Limited, SEBI has clarified its position on the continuous disclosure norms required under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”). Regulation 7(2)(a) provides that a promoter, employee and director of a company is required to inform the company, within 2…

Portfolio Managers Beware

SEBI recently clarified that trades executed by entities in possession of unpublished price sensitive information, even if done indirectly through discretionary portfolio management schemes (DPMS), will be in violation of the SEBI (Prohibition of Insider Trading) Regulations, 2015. HDFC Bank had sought SEBI’s views on (i) whether an employee of the bank or his relatives,…

© Finsec Law Advisors | 2017
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