Sebi forms panel to review insider trading norms

In its bid to further strengthen the regulatory framework dealing with insider trading,the Securities and Exchange Board of India

Written by ENS Economic Bureau | Mumbai | Published:March 6, 2013 12:50 am

In its bid to further strengthen the regulatory framework dealing with insider trading,the Securities and Exchange Board of India (Sebi) has established a 16-member committee to review the existing insider trading norms.

The ‘high-level’ panel will be chaired by NK Sodhi,retired Chief Justice of Karnataka High Court and former presiding officer of the Securities Appellate Tribunal (SAT) and includes people from a cross-section of the industry to observe global practices and come out with its recommendations on insider trading.

Members include Maharashtra Advocate General Darius Khambata,Rajeev Luthra of Luthra & Luthra Law Offices,K Venkataramanan,CEO & MD,L&T, Motilal Oswal of Motilal Oswal Financial Services,and S Ramann,ED (surveillance) Sebi,among others.

“To ensure that the regulatory framework dealing with insider trading in India is further strengthened,Sebi seeks review of the extant regime,” said Sebi in a release. FE

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