Insider Trading Rules Expanded: Wider Definition of "Insiders" and Burden of Proof Shifted to Alleging Party.

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Full Text of the Document

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....The Securities and Exchange Board of India (SEBI) has amended the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. The key changes include expanding the definition of "connected person" to include anyone with access to unpublished price sensitive information (UPSI), directly or indirectly, and introducing a broader definition of "relative" to cover more family relationships. The amendments aim to strengthen insider trading regulations by widening the scope of individuals considered insiders and connected persons. The burden of proving possession of UPSI now lies with the person alleging insider trading.....