Corporate Updates – 16-01-2015


SEBI to put in place a framework for prohibition of insider trading in securities and to strengthen the legal framework thereof has notified the SEBI (Prohibition of Insider Trading) Regulations, 2015. These regulations shall come into force on the one hundred and twentieth day from the date of its publication in the Official Gazette. It has two schedules to deal with the Principles of Fair Disclosure for purposes of Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information and for Minimum Standards for Code of Conduct to Regulate, Monitor and Report Trading by Insiders.


RBI has liberalized the Documentation Requirements in the OTC market for exporters and importers relating to hedging of probable exposures based on past performance, the extant guidelines in this regard have been revised. It has now been decided that importers and exporters shall, henceforth, be required to furnish a quarterly declaration to the in the format duly signed by the Chief Financial Officer (CFO) and the Company Secretary (CS). In the absence of a CS, the Chief Executive Officer (CEO) or the Chief Operating Officer (COO) shall co-sign the undertaking along with the CFO.


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