Mumbai, Aug 15: The National Stock Exchange (NSE) last week shared compliance certificate on insider trading with companies, who have to give declaration as they have control over the sensitive information and they are are tracking it at their end.
Soon after this, NSE is tracking companies are following this compliance or not to stop insider trading.
As per SEBI’s regulations on insider trading prohibition, listed companies have to maintain a structured digital database (SDD) to store UPSI, which includes a range of information like financial numbers, business plan, decision to sell off a factory, merger, demerger, dividend etc that can move the stock price.
The companies in the compliance certificate has to ensure that person’s name along with PAN number or any other document has to be maintained with whom the information has been shared.
This declaration had to be submitted by August 9.
With IANS Inputs…
