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<h1>Insiders Restricted from Trading Mutual Fund Units Under SEBI Regulation 5D While Holding Sensitive Information</h1> Regulation 5D of the SEBI (Prohibition of Insider Trading) Regulations, 2015 prohibits insiders from trading in mutual fund units while possessing unpublished price sensitive information that could affect the scheme's net asset value or unit holders' interests. Such trading is presumed to be influenced by the insider's knowledge. Insiders can prove innocence by demonstrating specific circumstances, such as off-market transfers between informed insiders, transactions due to statutory obligations, systematic transactions registered two months prior, or trades under approved irrevocable plans. The burden of proof lies with connected persons to show they lacked such information, otherwise, it rests with the Board.