The Sebi has notified that amended insider trading rules for mutual funds will come into effect from November 1.
“The board hereby appoints November 1, 2024, as the date on which the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2022 shall come into force,” the gazette notification said.
The amended rules will require mutual funds to maintain a list of employees and individuals, known as “designated persons”, who can have access to unpublished price sensitive information. Designated persons are required to disclose the details of their holdings in the units of mutual fund schemes.
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