The trading window closure mechanism, first introduced in September 2022 for Sensex and Nifty companies, was later extended to DPs of all listed entities. Following successful implementation, SEBI has now brought immediate relatives of DPs under the same framework.
Makarand Joshi – Partner of MMJC – Commented – the PAN freezing mechanism has reduced inadvertent trades during financial results and significantly eased the tracking burden on compliance officers. The next step will be to see if Sebi extends this framework of PAN freezing to cover Unpublished Price Sensitive Information (UPSI) beyond financial results and for fiduciaries DPs and their immediate relatives as well.
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