The Securities and Exchnage Board of India (SEBI) on December 28, 2023, issued a Consultation paper on amendments to SEBI Regulations with Respect to the Verification of Market Rumour
The following has been stated namely: -
• It states that this consultation paper seeks comments/views/suggestions from the public on the following proposals namely: -
(i) material price movement as the criteria to verify market rumors instead of material events in terms of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”
(ii) mechanism to ensure that unaffected price is considered with respect to transactions relating to the securities of a listed entity upon confirmation of market rumor
(iii) obligation on promoters, directors, key managerial personnel (“KMP”), and senior management to provide adequate, accurate, and timely responses to the queries raised or explanations sought in respect of market rumors by the listed entity in order to ensure compliance with Regulation 30(11) of LODR Regulations
(iv) classification of information which was not verified by listed entities as unpublished price-sensitive information.
• It states that the comments or suggestions shall be submitted by any of the following modes by January 18, 2024, namely: -
(i) preferably through online mode at the following link: link to provide comments online
(ii) alternately, by email to [email protected]. While sending the email, kindly mention the subject as “Comments on the consultation paper on amendments to SEBI Regulations with respect to verification of market rumors”.
(iii) The comments should be sent by email in MS Excel file as per the format attached.
