The Securities and Exchange Board of India (“SEBI”) has on April 29, 2021 issued comprehensive FAQs on the SEBI (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”) with an objective to provide greater clarity on several concepts related to the PIT Regulations and to shed more light on the various requirements of the PIT regulations.
Additionally, on May 3, 2021, SEBI has released a compilation of all the informal guidance issued by SEBI in relation to the PIT Regulations during the period between October 14, 2015 to February 08, 2021 (“Compilation”). This compilation enables users to have access to all the informal guidance relating to PIT Regulations at one place. The weblink to each of the informal guidance has also been specified in the Compilation. However, SEBI has clarified that in case of any inconsistency between the Compilation and the respective informal guidance, the content of the respective informal guidance shall prevail.
This is a laudable initiative by SEBI and is expected to go a long way in providing clarity on the nuances of the PIT Regulations.
Please find a copy of the FAQs, here and a copy of the Compilation, here.
This update has been contributed by Suchita Ambadipudi (Partner) and Smriti Tripathi (Associate).
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