SEBI: Insider Trading Norm Applicable Even to Inactive Promoter - 16.10.2019

Securities and Exchange Board of India has observed that a person identified as a promoter, even if he is not acting as a promoter of the company, exercises no control, plays no role in the management and does not hold any position, should comply with insider trading regulations. In an informal guidance given to Apollo Tricoat Tubes, SEBI observed that a person identified as a promoter is required to comply with the code of conduct requirements, as they apply to other designated persons.

Tags : SEBI Insider Trading

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