The Securities Exchange Board of India on Board meeting dated September 29, 2020, has approved to amend following Regulations:
- SEBI (Debenture Trustee) Regulations, 1993, SEBI(Issue and Listing of Debt Securities) Regulations, 2008
- SEBI (Listing Obligations and Disclosure Requirements), 2015
- SEBI (Delisting of Equity Shares) Regulations, 2009
- SEBI (Mutual Funds) Regulations, 1996
- SEBI (Alternative Investment Funds) Regulations, 2012
- SEBI (Prohibition of Insider Trading) Regulations, 2015
The Board after deliberation, approved the amendments to SEBI (Mutual Funds) Regulations, 1996 to introduce a Code of Conduct for Fund Managers including Chief Investment Officers and Dealers of AMCs. Further, the Chief Executive Officer will be responsible to ensure that the Code of Conduct is followed by all such officers.
The Board also approved amendment to SEBI (Alternative Investment Funds) Regulations, 2012 which includes definition of ‘relevant professional qualification’ and provides that the qualification and experience criteria of the investment team, may be fulfilled individually or collectively by personnel of key investment team of the Manager.
Further, the Board approved amendments to SEBI (Prohibition of Insider Trading) Regulations, 2015 to provide a time period of up to 3 years for reporting violations under the insider trading laws through the informant mechanism and Informants are required to include specific information (such as details of securities, trades by suspect and unpublished price sensitive information based on which insider trading is alleged) with respect to the alleged violations.
