SEBI had constituted a Committee on Fair Market Conduct in August 2017 under the Chairmanship of Shri T.K. Viswanathan, Ex-Secretary General, Lok Sabha and Ex- Law Secretary.
This Committee was mandated to review the existing legal framework to deal with market abuse to ensure fair market conduct in the securities market. The Committee was also mandated to review the surveillance, investigation and enforcement mechanisms being undertaken by SEBI to make them more effective in protecting market integrity and the interest of investors from market abuse. The Committee had submitted its report to SEBI on August 08, 2018, which was placed on the SEBI website for public comments on Aug 09, 2018.
Thereafter, SEBI had, at its Board meeting held on 18th September 2018, approved certain amendments to SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Markets) Regulations, 2003 (hereinafter referred to as PFUTP Regulations) and SEBI(Prohibition of Insider Trading) Regulations, 2015.
Accordingly, now on 31st December 2018, SEBI has issued Notifications for the amendment to these two Regulations. The analysis of amendments in these Regulations shall be circulated separately.
The copy of the SEBI Notification dated 31st December 2018 for the amendment to SEBI (Prohibition of Insider Trading) Regulations, 2018 is available on the following link:
The copy of the SEBI Notification dated 31st December 2018 for the amendment to SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Markets) Regulations, 2003 is available on the following link:
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