Contra-trade Restrictions May Apply to Trades Made by Individual Promoters Under PIT Norms | SEBI
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- Last Updated on 27 October, 2023
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Informal Guidance No. SEBI/HO/ISD/ISD-PoD-2/P/OW/2023/29686/1, Dated: 25.07.2023
A company sought informal guidance from SEBI on whether the provision of contra-trade applies to trades made by an individual promoter or whether the entire category of promoter & promoter group is considered for the same. SEBI clarified that the provision of contra-trade restrictions may apply to trades made by the promoter individually as per regulation 9 read with Schedule B of the SEBI (Prohibition of Insider Trading) Regulations, 2015.
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