Dear Sir/ Madam
The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 (PIT Regulations) were amended and notified vide Gazette Notification No. SEBI/LAD-NRO/GN/2020/23 dated July 17, 2020. Accordingly, SEBI vide circular no. SEBI/HO/ISD/ISD/CIR/P/2020/168 dated September 09, 2020 decided to implement the System Driven Disclosures (“SDD”) in phased manner.
To begin with, SDD is being implemented 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. The SDD shall pertain to trading in equity shares and equity derivative instruments. The coverage of SDD maybe subsequently enhanced under Regulation 7(2) of PIT Regulations to include other types of securities.
In this regard, SEBI has informed the Exchange that there have been few queries received from market participants seeking clarification with regard to SDD. To address these queries, FAQs as per Annexure I are being issued.
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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January 29, 2021
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