Capital markets watchdog Sebi on Tuesday came out with a new format for disclosures to be made under the insider trading norms.
In light of amendments to the PIT Regulations affecting the inclusion of members of the promoter group, and designated person in place of employee and on the basis of feedback received from market participants and exchanges, the relevant disclosure formats have been suitably revised, Sebi said in a circular.
Under the new format, details of securities held upon becoming a member of the promoter group of a listed company and immediate relatives of such persons need to be disclosed, besides, any change in shareholding also needs to be disclosed.
In September, the Securities and Exchange Board of India (Sebi) had decided to implement system-driven disclosures for members of the promoter group, directors and designated persons of a listed company.
The system-driven disclosures in the securities market were first introduced in December 2015 and are being implemented in a phased manner.
"It has now been decided to implement the system-driven disclosures for member(s) of promoter group and designated person(s) in addition to the promoter(s) and director(s) of the company under the PIT Regulations," Sebi had said that time.