India's Sebi revises Prohibition of Insider Trading (PIT) regulations, shortening reporting time, increasing price limits, and offering plan cancellation options for company insiders.
Sebi, India's securities market regulator, has revised its Prohibition of Insider Trading (PIT) regulations, making it easier for company insiders to trade shares. The new rules include a reduced cooling-off period, 20% price limits at both the upper and lower sides, and the option to cancel trading plans. Insiders are now required to inform the board of their buy/sell decisions four months in advance, down from six months. The updated framework aims to balance the interests of insider traders, companies, and investors, providing a more flexible and workable set of rules for managing insider trading.
June 26, 2024
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