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ARTICLE · 13 JULY 2018

System-Driven Disclosures In Securities Market

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The proposal regarding system-driven disclosures in the market has been proposed to be implemented in phases.

IndiaCorporate/Commercial Law
S.S. Rana & Co. Advocates
S.S. Rana & Co. Advocates
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Background:

The Securities and Exchange Board of India (hereinafter referred as 'SEBI'), vide circular1 dated December 01, 2015, had introduced system-driven disclosures in securities market detailing the procedure to be adopted for its implementation. The procedure was further streamlined vide SEBI circular2 dated December 21, 2016 to ensure that the depositories provide the transaction data of promoters/ promoter group on a daily basis directly to the stock exchanges for dissemination of the necessary disclosures.

Implementation of the system:

The proposal regarding system-driven disclosures in the market has been proposed to be implemented in phases. The first phase has seen the implementation of the disclosures of promoter/promoter group under the following regulations:

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