Ref. LIST/COMP/49/2020-21
Securities and Exchange Board of India (SEBI) has issued circular No. SEBI/HO/ISD/ISD/CIR/ P/2020/168 dated September 9, 2020, regarding automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 - System driven disclosures.
Pursuant to the amendment of PIT Regulations and discussions held, it has now been decided to implement the system driven disclosures for member(s) of promoter group and designated person(s) in addition to the promoter(s) and director(s) of company (hereinafter collectively referred to as entities) under Regulation 7(2) of PIT Regulations.
To begin with, the system driven disclosures shall pertain to trading in equity shares and equity derivative instruments i.e. Futures and Options of the listed company (wherever applicable) by the entities.
The system would continue to run parallel with the existing system i.e. entities shall continue to independently comply with the disclosure obligations under PIT Regulations as applicable to them till March 31, 2021.
This circular supersedes the earlier SEBI circulars dated December 01, 2015, December 21, 2016 and May 28, 2018 with respect to implementation of System driven disclosures under PIT Regulations.
The procedure for implementation of the system driven disclosures is provided at Annexure-A of the circular.
The aforesaid circular is enclosed for reference.
Listed Companies are requested to take note and comply accordingly.
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Abhijit Pai
Dy. General Manager
Listing Compliance
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Shyam Bhagirath
Manager
Listing Compliance
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September 10, 2020
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