The Securities and Exchange Board of India (SEBI) on June 25, 2024, notified the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2024 further amend the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.
The following has been stated: -
•In regulation 5, in the second proviso to sub-regulation (3), the words “and restrictions on contra trade” shall be omitted.
•In regulation 5, sub-regulation (5) shall be substituted by the following, namely: -
“The compliance officer shall approve or reject the trading plan within two trading days of receipt of the trading plan and notify the approved plan to the stock exchanges on which the securities are listed, on the day of approval.”
They shall come into force on the ninetieth day from June 26, 2024.
The detailed amendments are given in the document below.
[Notification No. SEBI/LAD-NRO/GN/2024/184]
