Context: The Securities and Exchange Board of India (Sebi) has amended its Prohibition of Insider Trading (PIT) regulations, offering more flexibility to senior executives of listed companies who need to submit a “trading plan” for dealing with their shares.
- These insiders, who typically have access to unpublished price-sensitive information (UPSI), must now specify share price, amount, and transaction date in advance.
- Key changes include reducing the minimum cool-off period from six to four months and allowing a 20% price range for share transactions.
Source: Business Standard
