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<h1>SEBI Updates Rules for AMC Employees: Insider Trading Prevention, Transaction Approvals, and Reporting Requirements Effective Dec 1, 2021.</h1> The Securities and Exchange Board of India (SEBI) issued a circular on October 28, 2021, revising guidelines for investment and trading in securities by employees and board members of Asset Management Companies (AMCs) and Trustees of Mutual Funds. These guidelines aim to prevent misuse of sensitive information and ensure compliance with insider trading regulations. Key provisions include defining 'Access Persons,' requiring prior approval for certain transactions, and setting a 'cooling off' period for trading. The circular also outlines reporting requirements for personal transactions and mandates periodic reviews by AMC boards and trustees to ensure adherence to these norms. The guidelines take effect on December 1, 2021.