Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019 w.e.f. 21/01/2019

SEBI has amended Rule 2 of the aforementioned rule so as to include the term “Promoters group” in the definition of deemed to be connected person.

Rule7(1) has been amended to include “members of the promoters group” to make the initial disclosures regarding the securities held in the Listed company within 30 days of publication of this notification in the official Gazette.

Rule 7(2) has been amended to include “members of the promoters group” to make continual disclosures to the Listed company regarding the number of such company’s securities acquired or disposed of within 2 trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of 10 lakh rupees or such other value as may be specified.