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SEBI vide notification no. SEBI/LAD-NRO/GN/2024/184 dated June 25,2024 had amended SEBI (Prohibition of Insider Trading) Regulations, 2015 key ones being.:
1) Insiders who have access to Unpublished Price-Sensitive Information (UPSI) are now required to specify share price, amount, and transaction date in advance in the Trading Plan. Key changes include reducing the minimum cool-off period from six months to 120 calendar days and allowing a 20% price range for share transactions.
2) Further, the Compliance Officer shall approve or reject the trading plan within two trading days of receipt of the trading plan and notify the approved plan to the Stock Exchange on the day of approval.
The amendments will be effective from the ninetieth day from the date of publication in the Official Gazette. (Date of Publication in the Official Gazette : 25 Jun 2024)
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