In this session of Voices on Reporting webinar, we covered important updates issued by the Securities and Exchange Board of India (SEBI) recently.
Following are the updates that were discussed in the session:
- Prevention of insider trading and safeguarding of UPSI: SEBI (Prohibition of Insider Trading) (PIT) Regulations 2015 prohibits communication and procurements of Unpublished Price Sensitive Information (UPSI). The regulations were framed to combat the menace of trading in securities with the unfair advantage of having access to UPSI. SEBI recently issued amendments to PIT Regulations 2015 which became effective from 1 April 2019. The amended regulations are aimed at ensuring accountability and robust control framework to prevent insider trading. The session discussed the recent amendments to PIT Regulations 2015.
- Issuance of Differential Voting Rights (DVR) shares: SEBI in its board meeting on 27 June 2019, approved a framework for issuance of DVR shares. The framework approved is in respect to issuance of shares with superior voting rights (SR shares). The session provided an update on key provisions approved by SEBI.
- Revised formats for compliance report on corporate governance: On 16 July 2019, SEBI issued revised formats for compliance report on corporate governance required to be submitted to the recognised stock exchange by the listed entities. The revised formats are effective from the quarter ending 30 September 2019. The session highlighted the changes issued to the formats by SEBI.
Slidedeck (PDF, 1 MB)