SEBI Proposes Redefining ‘Immediate Relative’ to ‘Relative’ as Per Income Tax Act for Insider Trading Rules
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- By Chetan Kulasri
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- Last Updated on 31 July, 2024
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Consultation Paper, Dated: 29.07.2024
SEBI has released a Consultation Paper on proposed amendments to SEBI (PIT) Regulations, 2015, to rationalize the scope of the expression ‘connected person’ while not increasing compliance requirements. As per proposed norms, the term ‘immediate relative’ in definition of connected person under regulation 2(1)(d)(ii)(a) is proposed to be replaced with term ‘relative’ in line with definition of relative under Income Tax Act, 1961. Also, SEBI has proposed to rationalise definition of ‘relative’.
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