Insider trading regulations tightened: expanded insider definition, faster disclosure timelines, stricter trading restrictions and e filing enabled. Amendments expand the definition of insider, define 'working day' as a trading day on the relevant exchange, require companies to adopt the Model Code without dilution, accelerate disclosure timelines to two working days for directors and officers, permit e filing of disclosures, impose a six month restriction on opposite transactions and a prohibition on taking derivative positions, mandate a minimum holding for primary market allotments, and provide for enforcement under specified SEBI Act provisions with appeals to the Securities Appellate Tribunal.
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Insider trading regulations tightened: expanded insider definition, faster disclosure timelines, stricter trading restrictions and e filing enabled.
Amendments expand the definition of insider, define "working day" as a trading day on the relevant exchange, require companies to adopt the Model Code without dilution, accelerate disclosure timelines to two working days for directors and officers, permit e filing of disclosures, impose a six month restriction on opposite transactions and a prohibition on taking derivative positions, mandate a minimum holding for primary market allotments, and provide for enforcement under specified SEBI Act provisions with appeals to the Securities Appellate Tribunal.
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