https://www.taxtmi.com/news?id=16016 Guidance clarifies that ESOP exercises are not treated as "trading" for Chapter III though subsequent sales of ESOP acquired shares remain regulated; cash settled derivatives on expiry are contra trades; index derivative exposures need not be reported. Buybacks, open offers, rights issues, FPOs, bonus issues and exit offers are available to designated persons and exempt from the contra trade restriction. Pledge creation or invocation while in possession of UPSI is prohibited unless bona fide intent is demonstrable; pledge disclosures use market value on the transaction date. Boards must approve trades by compliance officers and CIRO and CO may share joint responsibilities. en-us Wed, 13 Apr 2016 12:00:47 +0530 Wed, 13 Apr 2016 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16016 Guidance clarifies that ESOP exercises are not treated as "trading" for Chapter III though subsequent sales of ESOP acquired shares remain regulated; cash settled derivatives on expiry are contra trades; index derivative exposures need not be reported. Buybacks, open offers, rights issues, FPOs, bonus issues and exit offers are available to designated persons and exempt from the contra trade restriction. Pledge creation or invocation while in possession of UPSI is prohibited unless bona fide intent is demonstrable; pledge disclosures use market value on the transaction date. Boards must approve trades by compliance officers and CIRO and CO may share joint responsibilities. News - Wed, 13 Apr 2016 12:00:47 +0530 https://www.taxtmi.com/news?id=16016