BSE issues best practices ensuring compliances under SEBI (Prohibition of Insider Trading) Regulations, 2015

BSE has issued a circular outlining the best practices that a listed entity must follow to ensure full compliance with the Securities and Exchange Board of India (SEBI) Prohibition of Insider Trading (PIT), Regulations, 2015.

Key Practices to be followed by Listed Entities:

1. Listed companies must maintain a structured digital database containing the nature of UPSI, the names and PANs (or any other identifier authorized by law) of persons who have shared the information, and the names and PANs of persons with whom such information has been shared. In cases where UPSI is shared with a listed company, intermediaries, or fiduciaries, the names and identifier of the individuals handling such information must be recorded.
2. Listed companies shall diligently implement and periodically review internal policies designed to prevent the leakage of UPSI. Such measures must be in alignment with the statutory and regulatory provisions prescribed under the PIT Regulations.
3. Companies must conduct periodic training and awareness programs for all employees and fiduciaries regarding the prescribed manner of handling UPSI.
4. Listed companies must ensure compliance with the Code of Conduct formulated by the company with respect to the PIT Regulations, ensuring that the same is effectively operationalized.
5. Listed entities are advised to implement any other such measures as may be necessary to ensure that the objectives of the PIT Regulations are achieved.

Source: BSE