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Core Purpose

Notification of the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2024, amending the definition of unpublished price sensitive information in the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Detailed Summary

The Securities and Exchange Board of India issued Notification No. SEBI/LAD-NRO/GN/2024/181 dated 17th May 2024, titled the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2024, made under section 30 read with clause (g) of sub-section (2) of section 11 and clauses (d) and (e) of section 12A of the Securities and Exchange Board of India Act, 1992 (15 of 1992). The amendment, effective from its date of publication, modifies regulation 2(1)(e) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (originally published 15 January 2015 vide No. LAD-NRO/GN/2014-15/21/85, and previously amended nine times between 2018 and 2022) by inserting into the definition of unpublished price sensitive information the words "and shall not include unverified event or information reported in print or electronic media," and by making minor corrective wording changes to the accompanying explanatory Note. The notification is signed by Babitha Rayudu, Executive Director, under ADVT.-III/4/Exty./129/2024-25.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-MH-E-18052024-254226 EXTRAORDINARY PART III-Section 4 PUBLISHED BY AUTHORITY No.360] NEW DELHI, FRIDAY, MAY 17, 2024/VAISAKHA 27, 1946 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 17th May, 2024 SECURITIES AND EXCHANGE BOARD OF INDIA (PROHIBITION OF INSIDER TRADING) (AMENDMENT) REGULATIONS, 2024 No. SEBI/LAD-NRO/GN/2024/181 – In exercise of the powers conferred by section 30 read with clause (g) of sub- section (2) of section 11 and clauses (d) and (e) of section 12A of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, namely: — 1. These regulations may be called the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2024. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, in regulation 2, in sub-regulation (1), in clause (e), - I. after the words “non-discriminatory basis" and before the symbol ";", the words “and shall not include unverified event or information reported in print or electronic media" shall be inserted; II. in the NOTE thereto, - (1) after the words "appreciate what" and before the words "unpublished price”, the word 'constitutes" shall be inserted; (2) the word "is" appearing after the words "unpublished price sensitive information" and before the symbol "." shall be omitted. BABITHA RAYUDU, Executive Director [ADVT.-III/4/Exty./129/2024-25] Footnotes: 1. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 was published in the Gazette of India on January 15, 2015 vide No. LAD-NRO/GN/2014-15/21/85. 2. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, were subsequently amended on: i. December 31, 2018 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2018 vide No. SEBI/LAD-NRO/GN/2018/59. ii. January 21, 2019 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019 vide No. SEBI/LAD-NRO/GN/2019/02. iii. July 25, 2019 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2019 vide No. SEBI/LAD-NRO/GN/2019/23. iv. September 17, 2019 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Third Amendment) Regulations, 2019 vide No. SEBI/LAD-NRO/GN/ 2019/32. v. July 17, 2020 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2020 vide No. SEBI/LAD-NRO/GN/2020/23. vi. October 29, 2020 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2020 vide No. SEBI/LAD-NRO/GN/ 2020/38. vii. April 26, 2021 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/17. viii. August 05, 2021 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/ 2021/37. ix. November 24, 2022 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2022 vide No. SEBI/LAD-NRO/GN/2022/108 5Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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