System-driven Disclosures in Securities Market

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....oter/promoter group under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as "SAST Regulations") and SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafter referred to as "PIT Regulations") have been implemented. 3. It is now proposed to implement the next phase of the system which shall pertain to the following additional disclosures: a. Disclosures under Regulation 29(1) and 29(2) of SAST Regulations by non-promoters. b. Disclosures under Regulation 7(2) of PIT Regulations pertaining to directors and employees of the company. 4. The CEO and upto two levels below CEO of a company shall be deemed as employees for the purpose of system-driven disclosures ....

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....ral Manager +91-22-26449232 [email protected] ANNEXURE - A Procedure The following would be the steps / process required to be taken for implementation of the second phase: SAST Regulations: 1. The various formats for sharing of data shall be standardized as agreed upon by the depositories and exchanges. 2. For the purpose of Regulation 29(4) of SAST Regulations, the depositories shall tag the scheduled commercial banks and public financial institutions in their systems for excluding them from disclosure requirements. 3. The depositories shall share data with each other, on a daily basis, pertaining to non-promoter shareholders of a company who are holding more than 2% in the company. 4. The details of shareholding of those non....