Category: Employee Trade Tracker

FAQs – Structured Digital Database – Annexure B

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SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafter referred to as “PIT Regulations, 2015”) came into effect from May 15, 2015. Subsequently amendments were made to put in place a framework for prohibition of insider trading in securities and to strengthen the legal framework to cater to changing dynamics of the market. SEBI, vide the SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018, introduced the concept of Structured Digital Database (hereinafter referred to as “SDD” or the “Database”) which came into effect from April 01, 2019. Considering the requirement to bring clarity on the maintenance of SDD, SEBI introduced further amendments in the year 2020 and issued FAQs in April 2021 on the same.

Prohibition of Insider Trading (Amendment) Regulations , 2022

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सं. सेबी/एल.ए.डी.-एन.अर.ओ./जी.एन./2022/108.—बोडड, भारतीय प्रजतभूजत और जिजनमय बोडड ऄजधजनयम, 1992 (1992 का 15) की धारा 11 की ईप-धारा (2) केखंड (छ) और धारा 12क केखंड (घ) एिं खंड (ङ) केसाथ पठित धारा 30 द्वारा प्रदान की गइ िजियों का प्रयोग करतेहुए, एतद्द्वारा भारतीय प्रजतभूजत और जिजनमय बोडड (ऄंतरंग व्यापार का प्रजतषेध) जिजनयम, 2015 का और संिोधन करनेकेजलए जनम्नजलजखत जिजनयम बनाता है, ऄथाडत्:-
1. आन जिजनयमों को भारतीय प्रजतभूजत और जिजनमय बोडड(ऄंतरंग व्यापार का प्रजतषेध) (संिोधन) जिजनयम, 2022 कहा जा सके गा ।
2. ये जिजनयम ईस तारीख को लागू होंगे, जो बोडड राजपत्र मेंऄजधसूचना जारी करके जनधाडठरत करे।

Automation of continual disclosures of PIT regulations

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SEBI circular dated 9th September, 2020 for automation of continual disclosures of PIT regulations – System driven disclosures. The system driven disclosures for member(s) of promoter group and designates employee(s) in addition to promoter(s) and director(s) of the company under PIT guidelines for listed companies. Based on PAN and demat account details provided, stock exchanges will identify the trades performed by the aforementioned entities in equities and equity derivative instruments which will then be disseminated on the stock exchange websites in case of disclosure trigger

PIT guidelines

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Amendments to Prevention of Insider Trading guidelines dated 17th July, 2020 for structured digital database require directors or heads of organization to maintain UPSI digital database such that this function is not outsourced & maintained internally. Also, the structured digital database needs to be maintained for a period not less than eight years among other amendments.