Unpublished price sensitive information cannot support securities transactions by merchant banker personnel, associates, or relatives during professional assignments.

Regulation 26 prohibits merchant bankers, their directors, partners, managers, principal officers, compliance officers, and specified employees from dealing in securities of bodies corporate using unpublished price sensitive information obtained during professional assignments. The restriction covers transactions on their own account or through associates or relatives, regardless of whether the information came from clients or otherwise. The scope extends from shares to securities and includes compliance officers and employees identified under regulation 6(b).

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