securities and exchange board of india

The Securities and Exchange Board of India (Sebi) has proposed a significant revamp of the “trading plan” framework, which would allow insiders to trade their company shares with greater flexibility. The proposed changes include the elimination of the “black-out” period, a reduction in the cool-off period, and relatively lenient price limits. Insiders, typically senior management and key managerial personnel who often have access to unpublished price-sensitive information (UPSI), have a small window to carry out trades in their company shares; they are required to submit a “trading plan” detailing the share price, quantity, and transaction date in advance. “Since the introduction of trading plans in 2015, data and market feedback suggest that the current regulatory re...

BENGALURU (Reuters) - Zee Entertainment Enterprises on Monday said it formed an interim committee to run operations after ex-chairman Subhash Chandra and CEO Punit Goenka failed to overturn the market regulator's ban on them holding board positions. The interim committee will be under the supervision of Zee's board, a company spokesperson said. The Securities and Exchange Board of India in June banned Chandra and Goenka from holding board positions in publicly listed companies for a year, alleging they were actively involved in diverting funds to the group's other listed entities and firms related to founding shareholders. Last week, the Security Appellate Tribunal refused to vacate the regulator's decision, saying it did not find any illegality or irrationalit...

Tag: securities and exchange board of india

Market regulator Sebi proposes easing trading plans for company insiders

Zee Entertainment forms interim committee to run operations; shares up 6.3%