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    <title>System-driven Disclosures in Securities Market</title>
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    <description>System-driven disclosures are extended to cover non-promoter disclosures under Regulation 29(1) and 29(2) of the Substantial Acquisition regime and Regulation 7(2) disclosures for directors and specified employees under the Insider Trading regime; CEOs and up to two levels below CEO are deemed employees for this purpose, scheduled commercial banks and public financial institutions acting as pledgees are excluded from the pledge disclosure requirement, and depositories and exchanges must standardise, tag, aggregate and share ISIN-level holdings data so that designated depositories process and forward disclosures daily to stock exchanges for website dissemination.</description>
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