TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Employees' Service) (Amendment) Regulations, 2026
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....ildren" which means children of an employee who are eligible for receiving medical or Leave Fare Concession benefit from SEBI; (ii) "Substantially dependent" which means a person who is included in family of the employee for receiving medical or Leave Fare Concession benefit from SEBI. Explanation: For the purpose of this definition, a person who is otherwise not dependent on the employee but is added in the Group Mediclaim Policy of SEBI as a non-dependent for which the premium is borne separately by the employee shall not be considered as 'substantially dependent'." ii. clause (h) shall be substituted with following, namely- "(h) "family members" means (i) Spouse of the employee; (ii) Dependent children of the employee, including Step children and Adopted children; (iii) Any person for whom the employee serves as legal guardian and substantially dependent on such employee; and (iv) Any other person related to by blood or marriage to the employee or his spouse, and substantially dependent on such employee." iii. after clause (h), the following new clause shall be inserted, namely- "(ha) "Fina....
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....se shall not appear before or against the Board on behalf of any other person in any matter or quasijudicial proceeding (including adjudication) or settlement or approval matter for a period of two years from the date of being relieved from service." IV. In regulation 62, i. in sub-regulation (1), a. after the words "Trivial gifts like", the words and symbols "mementos, souvenirs, bouquets," shall be inserted; b. the words "on the occasion of Diwali and New Year" shall be deleted. c. the word "near" appearing in the Explanation shall be deleted. ii. In sub-regulation (2), a. after the words "the value of such gifts", the words "received from any one person" shall be inserted; b. the word and symbols "Rs. 10,000" shall be substituted with the word and symbols "Rs. 50,000". V. Regulation 64 shall be substituted with the following, namely- "Restrictions on investments 64. (1) An employee or his family members shall not make any fresh investment in non-permitted investment, during the period of service of the employee with the Board. (2) Investment by an employee during the perio....
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....gulation 5 of SEBI (Prohibition of Insider Trading) Regulations, 2015; or (iv) Sell the non-permitted investment during his period of service with the Board without a trading plan but with prior approval of the OEC. (2) With respect to investment in equity or instrument convertible into equity, of a commercial venture (including unlisted companies) of the employee, he shall only have to choose from option (i) or (ii) of sub-regulation (1). (3) If non-permitted investments are not liquidated at the time of joining, - (i) the employee shall not be allowed to exercise voting rights in respect of those equity during the period of service with the Board; and (ii) receipt of equity on account of corporate action or subscription to rights issue with respect to such equity shall not be prohibited during the period of service with the Board. (4) If an employee opts for trading plan, he must adhere to that trading plan and deviation could only be with the prior approval. (5) The prior approval required under this regulation shall be obtained from the OEC. (6) Vested option with respect to equity may be exercised by an em....
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.... (5) An employee shall disclose every transaction in financial asset made by him and by his family members acquired out of the money received from the employee or in which the employee has an interest, during his period of service with the Board, to the OEC, if the value of such transaction is more than two times of his monthly basic pay, within one month from the end of the month in which such transaction takes place. (6) An employee shall disclose details as required under sub-regulation (1) with respect to any person becoming his family member, during his period of service, within one month from the end of the month in which such change takes place. (7) Employees shall file disclosures listed at sub-regulation (1) as on the last day of the previous financial year within the timeline as may be specified. (8) Details of immovable properties disclosed by the employees in Grade F and Executive Directors, shall be made public by the OEC in such manner as may be prescribed from time to time." VIII. After regulation 66 and before regulation 67, the following new regulation shall be inserted, namely- "Recusal 66A. (1) An employe....