The Securities and Exchange Board of India (SEBI) on May 21, 2024, issued the notification regarding the Industry Standards for verification of market rumours.
The following has been stated namely: -
• The Industry Standards Forum (“ISF”) comprising of representatives from three industry associations, viz. ASSOCHAM, CII, and FICCI, under the aegis of the Stock Exchanges, have formulated industry standards, in consultation with SEBI, for effective implementation of the requirement to verify market rumours
• The industry associations that are part of ISF (ASSOCHAM, FICCI, and CII) and the stock exchanges shall publish the industry standards note on their websites
• The enforcement of the requirement to verify market rumours shall be: -
o Top 100 listed entities – June 01, 2024
o Top 250 listed entities (i.e., next top 150) – December 01, 2024
[Notification No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/52]
