Surveillance of securities market rules updated through a master circular consolidating prior circulars and preserving accrued rights and proceedings.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....SEBI's master circular consolidates and updates surveillance-related circulars for the securities market, placing applicable instructions in one instrument for stock exchanges, depositories, listed companies, intermediaries and fiduciaries. It rescinds the circulars listed in the appendix to the extent they relate to surveillance of securities market, while preserving prior actions, pending applications, accrued rights, liabilities, penalties and proceedings as if the rescinded circulars remained in force. It also incorporates updated provisions on financial disincentives for surveillance lapses at market infrastructure institutions, subscription to non-convertible securities during trading window closure, and automated trading window closure for immediate relatives of designated persons on declaration of financial results.....