Regulation 6 - General provisions - Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015

CHAPTER III DISCLOSURES OF TRADING BY INSIDERS General provisions. 6. (1) Every public disclosure under this Chapter shall be made in such form as may be specified. (2) The disclosures to be made by any person under this Chapter shall include those relating to trading by such person s immediate relatives, and by any other person for whom such person takes trading decisions. NOTE: It is intended that disclosure of trades would need to be of not only those executed by the person concerned but also by the immediate relatives and of other persons for whom the person concerned takes trading decisions. These regulations are primarily aimed at preventing abuse by trading when in possession of unpublished price sensitive information and therefore, what matters is whether the person who takes trading decisions is in possession of such information rather than whether the person who has title to the trades is in such possession. (3) The disclosures of trading in securities shall also include trading in derivatives of securities and the traded value of the derivatives shall be taken into account for purposes of this Chapter: Provided that trading in derivatives of securities is permitted by any law for the time being in force. (4) The disclosures made under this Chapter shall be maintained by the company, for a minimum period of five years, in such form as may be specified.