The market regulator, SEBI has issued informal guidance whereby it has been clarified that inter-se transfer between buyer and seller (insider) within a period of six months post the allotment of shares under right issue will violate provisions regarding contra trade of the securities and SEBI (Prohibition of Insider Trading) Regulations, 2015 and will attract penal provision on insiders. However, the compliance officer may refer code of conduct framed under PIT regulations.The market regulator, SEBI has issued informal guidance whereby it has been clarified that inter-se transfer between buyer and seller (insider) within a period of six months post the allotment of shares under right issue will violate provisions regarding contra trade of the securities and SEBI (Prohibition of Insider Trading) Regulations, 2015 and will attract penal provision on insiders. However, the compliance officer may refer code of conduct framed under PIT regulations.taxmann.com Latest Statutory HappeningsRead More
