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ARTICLE · 11 JANUARY 2019

A New Year Ushers In The Insider Trading Regulations, 2015 Version 2.0

Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas
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Cyril Amarchand Mangaldas

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These changes will become effective from April 1, 2019.

IndiaFinance and Banking
Bharat Vasani
Bharat Vasani
Shruti Rajan
Shruti Rajan
Rohan Banerjee
Rohan Banerjee

The Securities and Exchange Board of India (SEBI) ended the year with a bang by issuing a number of notifications on December 31, including the SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018 (PIT Amendment Regulations). The PIT Amendment Regulations come into force on April 1, 2019 and will have significant impact on the manner in which listed companies and intermediaries navigate the market conduct framework.

Though the SEBI (Prohibition of Insider Trading) Regulations, 2015 (PIT Regulations) are not very dated, there existed a need to review and tweak certain aspects of the law. Accordingly, in 2017, SEBI constituted the Committee on Fair Market Conduct under the chairmanship of Mr. T.K. Viswanathan (FMC Committee) to, amongst other things, identify opportunities to improve the PIT Regulations. A copy of the report is available here.

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