In the wake of revelations involving officials from the Central Electricity Regulatory Commission (CERC) in an insider trading case, the Securities and Exchange Board of India (Sebi) is planning to reach out to all sectoral regulators to sensitise them about insider trading norms and the handling of Unpublished Price Sensitive Information (UPSI), said two people aware of the development.
Makarand Joshi – Partner of MMJC commented – “PIT is applicable to all entities who handle UPSI — this has been clear since the framing of PIT regulations. With this precedent, all entities dealing with listed companies will have to ensure strict compliance with the PIT framework.”
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