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19-12-2024 10:33 AM | Source: PR Agency
Comment on SEBI expanding illustrative list under definition of UPSI as per SEBI PIT regulations By Makarand M Joshi Founder MMJC and associates a corporate compliance firm

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Below the Comment on SEBI  expanding illustrative list under definition of UPSI as per SEBI PIT regulations By Makarand M Joshi Founder MMJC and associates a corporate compliance firm

 

This change on expanding definition of UPSI is a positive deviation from earlier proposal by SEBI whereby all events or information under Schedule III of LODR were considered as UPSI. SEBI has curtailed the illustrative list of UPSI to 17 events from its earlier proposal of considering all 34 events under Sch III LODR as UPSI.

This move by SEBI may bring more inclination towards adoption of trading plans by designated persons as expansion of the illustrative list of UPSI may further restrict trading by designated persons in the securities of listed entities.

 

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