An Overview Of The Legal Regime Against Insider Trading In India
- IJLLR Journal
- Jun 17, 2022
- 1 min read
An Overview Of The Legal Regime Against Insider Trading In India: Evolution, Provisions And Recent Trends
Niraj Kumar Seth, MNLU Mumbai
ABSTRACT
The article simplifies the concept of insider trading and explores the rationale for regulating and prohibiting such practices. It traces the origins of insider trading regulations in India, even before the securities market regulator, Securities and Exchange Board of India (SEBI), was born. The rationale for enacting a new regulation against insider trading by SEBI in 2015, following multiple amendments to the 1992 regulations, have been studied. The paper summarises the most important provisions of 2015 regulations on the prohibition of insider trading, in light of landmark judicial pronouncements and recent amendments. Legal innovation carried out by SEBI on the subject has been highlighted as recent trend. Recommendations have been made to streamline and strengthen the regulations further and to plug the existing loopholes in the legal regime against insider trading in India.
Keywords: Insider, Trading, SEBI, UPSI, Regulation
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