Revamp Your Codes of Conduct & Get Aligned with the new Prohibition of Insider Trading Regulations, 2015
The Market Regulator, SEBI with the objective of bringing the basic framework governing the regime of Insider Trading practices in line with the dynamic global scenario and to tighten the gaps of existing norms, has notified the New PIT Regulations to be renowned as SEBI (Prohibition of Insider Trading) Regulations, 2015, on 15th January, 2015. These Regulations will be effective w.e.f 15th May, 2015.
Insider trading has always been an issue on the talk. SEBI’s move towards reformation of the extant Regulations is a significant step ensuring confidentiality in the operations and to provide a well governed legal system of the corporate sectors on one hand and to refrain any person from unfair trading in securities who has privilege of having access to unpublished information of any company.
The new Regulations seem to be more promising and equipped to ensure better compliance and enforcement, therefore it’s high time for listed companies, intermediaries, service providers and other market participants to relook and revamp their internal codes of conduct within a month as the new Regulations are about to come in force from 15th May, 2015.