Regulator SEBI has set up a committee on ‘fair market conduct’ which will suggest measures for improving surveillance of the markets and strengthen rules for trades.
The panel, under the chairmanship of former law secretary T K Viswanathan, would suggest measures for improvement in PIT (Prohibition of Insider Trading) norms, PFTUP (Prohibition of Fraudulent and Unfair Trade Practices) regulations and mainly related to ‘trading plans’ and handling of ‘unpublished price sensitive information’ during takeovers.
It would be responsible for recommending steps to align insider trading regulations with Companies Act provisions.
Important Takeaways from Above News-
- Ajay Tyagi is the present chairman of SEBI.
- Headquarter of SEBI is in Mumbai.
- SEBI full form is Securities and Exchange Board of India.
Source- The Economic Times