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ARTICLE · 18 AUGUST 2022

SEBI Restricts Trading By Designated Persons During Trading Window Closure

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With a view to curbing inadvertent trades in the securities of a listed entity during the trading window closure period (Blackout Period), the Securities and Exchange Board of India (SEBI) has...

IndiaCorporate/Commercial Law
Moin Ladha
Moin Ladha
Tanish Prabhakar
Tanish Prabhakar
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INTRODUCTION

With a view to curbing inadvertent trades in the securities of a listed entity during the trading window closure period (Blackout Period), the Securities and Exchange Board of India (SEBI) has introduced a circular dated 5 August 2022 (SEBI Circular) through which it intends to freeze the permanent account number (PAN) of designated persons (DP(s)), thereby restricting them from trading during the Blackout Period. As per the insider trading laws, all persons as part of a listed entity who are perpetually in possession of unpublished price sensitive information (USPI) are considered as a DP of the listed entity. The SEBI Circular would come in effect on 30 September 2022.

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