9911796707
TMI BlogCODE OF ETHICS FOR DIRECTORS AND KEY MANAGEMENT PERSONNELX X X X Extracts X X X X X X X X Extracts X X X X ..... and key management personnel, towards establishing a fair and transparent marketplace. The Code of Ethics is based on the following fundamental principles: Fairness and transparency in dealing with matters relating to the depository and the investors. Compliance with all laws/rules/regulations laid down by regulatory agencies/depositories. Exercising due diligence in the performance of duties. Avoidance of conflict of interest between self interest of directors/ key management personnel and interests of depository and investors. ii. Ethics committee. For overseeing implementation of this Code, an ethics committee shall be constituted by every depository under the governing board. iii. General standards. a) Directors and key management perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibition of Insider Trading) Regulations, 1992 may be referred in this regard. c) All transactions must be of an investment nature and not speculative in nature. Towards this end, all securities purchased must be held for a minimum period of 60 days before they are sold. However, in specific/exceptional circumstances, sale can be effected anytime by obtaining pre-clearance from the Compliance Officer to waive this condition after recording in writing his satisfaction in this regard. Explanation. - securities for the purpose of this Code shall not include units of mutual fund. v. Disclosure of dealings in securities by directors of the depository. a) All transactions in securities by the directors and their family shall be disclosed to the go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay functioning of the depository. a) The Chairman and directors shall not interfere in the day to day functioning of the depository and shall limit their role to decision making on policy issues and to issues as the governing board may decide. b) The Chairman and directors shall abstain from influencing the employees of the depository in conducting their day to day activities. c) The Chairman and directors shall not be directly involved in the function of appointment and promotion of employees unless specifically so decided by the governing board. ix. Access to information. a) Directors shall call for information only as part of specific committees or as may be authorised by the governing board. b) There shall be prescribed channels through ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
