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Home Economy

Insider trading

July 29, 2021
in Economy
Reading Time: 2 mins read
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Insider trading
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In news- Recently, SEBI imposed Rs.3 lakh fine on Shilpa Shetty, her husband and businessman Raj Kundra and his firm Viaan Industries for flouting its regulations on insider trading.

What is Insider trading?

  • Insider trading refers to trading of shares by an ‘insider’ based on unpublished price sensitive information (UPSI). 
  • It involves buying or selling shares of a listed company using information that can materially impact the stock price, but has not been made public yet.  
  • SEBI regulations define an ‘insider’ as someone who is a connected person or has access to UPSI. 
  • A connected person can be anyone who during the six months preceding the insider trade has been associated with the company in some way. 
  • This could be a company director or employee or their close relatives, or a legal counsel or banker to the company or even an official of the stock exchanges or trustees or employees of an asset management company who interacted with the company.
  • In India, Section 11(2)(g)  of Securities and Exchange Board of India Act, 1992 provides power to prohibit insider trading in securities in India.
  • Regulation 3(1) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 lays down the first prohibition on insider trading and states that no insider shall communicate any UPSI relating to a company to any person.
  • SEBI can impose fines and debar individuals/entities from trading in the market if found in violation of the rules.
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Source: India Today
Tags: India todayPrelims

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