The Securities and Exchange Board of India (“SEBI“) vide the SEBI (Prohibition of Insider Trading) Amendment Regulations, 2018 (“First Amendment Regulations“) notified certain amendments to the SEBI (Prohibition of Insider Trading) Regulations 2015 (“PIT Regulations“) on December 31st 2018 based on the recommendations of an expert committee. The said amendments came into force on 1st April 2019. The SEBI further notified certain additional amendments vide the SEBI (Prohibition of Insider Trading) Amendment Regulations, 2019 on 21st January, 2019 (“Second Amendment Regulations“). The second set of amendments came into effect on 21st January 2019. This article seeks to understand the various amendments to the PIT Regulations introduced by the SEBI. This article does not comprehensively set out all the amendments to the PIT Regulations introduced by the SEBI vide the aforestated amendment regulations but merely seeks to highlight the important ones.
The Amendments to the SEBI (Prohibition of Insider Trading) Regulations, 2015: Bane or Boon? by Mini Raman