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