The Securities Exchange Board of India (SEBI) on December 05, 2024, issued the Securities and Exchange Board of India (Prohibition of Insider Trading) (Third Amendment) Regulations, 2024, to further amend the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.
This shall come into force on December 06, 2024.
The following has been stated namely: -
• In regulation 2 (1) in clause (d) (i) shall be substituted with “(i) any person who is or has been, during the six months prior to the concerned act, associated with a company, in any capacity, directly or indirectly, including by reason of frequent communication with its officers or by being in any contractual, fiduciary or employment relationship or by being a director, officer or an employee of the company or holds any position including a professional or business relationship, whether temporary or permanent, with the company, that allows such a person, directly or indirectly, access to unpublished price sensitive information or is reasonably expected to allow such access.”
• In regulation 2 (1) in clause (d), in the Note, after the words and symbol “price sensitive information.” the word “Immediate relatives” shall be substituted with the word “Relatives”.
Detailed notification is attached below.
[Notification no. - SEBI/LAD-NRO/GN/2024/215]
